Enphase Energy, Inc. (NASDAQ:ENPH) Given Average Rating of “Hold” by Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given a consensus recommendation of “Hold” by the thirty-two brokerages that are presently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.7036.

ENPH has been the subject of a number of research reports. Northland Securities increased their price target on Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 29th. Wall Street Zen downgraded Enphase Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Raymond James Financial assumed coverage on Enphase Energy in a report on Monday, January 12th. They set a “market perform” rating on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $45.00) on shares of Enphase Energy in a research note on Wednesday, February 4th. Finally, Oppenheimer boosted their target price on shares of Enphase Energy from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th.

Insider Buying and Selling at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average price of $51.98 per share, with a total value of $259,900.00. Following the transaction, the chief executive officer owned 1,640,632 shares of the company’s stock, valued at $85,280,051.36. This trade represents a 0.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director owned 1,733,596 shares in the company, valued at $50,499,651.48. This trade represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 157,100 shares of company stock worth $4,624,815. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently modified their holdings of the company. PFG Investments LLC boosted its position in Enphase Energy by 2.2% during the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 260 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in shares of Enphase Energy by 5.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 319 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in shares of Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC boosted its position in shares of Enphase Energy by 19.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 392 shares in the last quarter. Finally, Tempus Wealth Planning LLC grew its stake in Enphase Energy by 4.8% during the third quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 394 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 4.9%

Shares of NASDAQ ENPH opened at $45.64 on Wednesday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 35.38 and a beta of 1.37. The company has a current ratio of 2.07, a quick ratio of 1.84 and a debt-to-equity ratio of 0.53. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $70.78. The stock has a 50-day moving average price of $37.37 and a two-hundred day moving average price of $35.26.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.19. The company had revenue of $343.32 million for the quarter, compared to analyst estimates of $340.45 million. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. As a group, analysts forecast that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.