Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Rating of “Hold” from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have received a consensus recommendation of “Hold” from the twenty-five analysts that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $44.2375.

Several research firms have recently commented on ENPH. Morgan Stanley set a $27.00 target price on shares of Enphase Energy in a research note on Friday, May 8th. Susquehanna reduced their target price on shares of Enphase Energy from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group reduced their target price on shares of Enphase Energy from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Oppenheimer reduced their target price on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Finally, Evercore set a $37.00 target price on shares of Enphase Energy in a research note on Monday, May 4th.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 700 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $46.39, for a total value of $32,473.00. Following the completion of the sale, the director owned 14,622 shares in the company, valued at approximately $678,314.58. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of Enphase Energy stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, with a total value of $337,500.00. Following the purchase, the chief executive officer directly owned 1,645,632 shares in the company, valued at approximately $111,080,160. This trade represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Norges Bank acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $118,190,000. Invesco Ltd. lifted its stake in shares of Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after purchasing an additional 839,468 shares during the period. Sora Investors LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $25,998,000. Coatue Management LLC lifted its stake in shares of Enphase Energy by 95.3% in the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after purchasing an additional 803,945 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Enphase Energy by 2,335.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock valued at $28,244,000 after purchasing an additional 765,322 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Up 13.5%

Shares of NASDAQ:ENPH opened at $72.33 on Friday. The stock has a market cap of $9.53 billion, a P/E ratio of 71.61 and a beta of 1.60. The firm has a fifty day moving average price of $41.95 and a 200 day moving average price of $38.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. Enphase Energy’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. Sell-side analysts predict that Enphase Energy will post 0.84 EPS for the current 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.