Enphase Energy (NASDAQ:ENPH) Downgraded to Strong Sell Rating by DZ Bank

DZ Bank downgraded shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research analysts have also weighed in on the company. Truist Financial reduced their target price on Enphase Energy from $65.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday. TD Cowen reduced their price target on shares of Enphase Energy from $78.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Enphase Energy from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday. Guggenheim reaffirmed a “sell” rating and issued a $33.00 price objective on shares of Enphase Energy in a research report on Wednesday. Finally, Glj Research reiterated a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.49.

Enphase Energy Trading Up 1.5 %

ENPH opened at $45.75 on Wednesday. The firm has a 50 day simple moving average of $58.22 and a 200 day simple moving average of $67.68. Enphase Energy has a fifty-two week low of $44.88 and a fifty-two week high of $141.63. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 61.83 and a beta of 1.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, sell-side analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CX Institutional bought a new position in Enphase Energy during the first quarter worth $29,000. Venturi Wealth Management LLC grew its holdings in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy in the 4th quarter worth about $47,000. GeoWealth Management LLC lifted its stake in shares of Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 321 shares during the period. Finally, Sava Infond d.o.o. bought a new stake in shares of Enphase Energy during the 4th quarter valued at about $69,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.