Enphase Energy (NASDAQ:ENPH) Price Target Raised to $24.47 at Glj Research

Enphase Energy (NASDAQ:ENPH) had its price objective increased by research analysts at Glj Research from $21.70 to $24.47 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the semiconductor company’s stock. Glj Research’s price target would suggest a potential downside of 31.98% from the company’s current price.

Several other research analysts have also commented on ENPH. Susquehanna boosted their price objective on shares of Enphase Energy from $32.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Barclays raised shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $30.00 to $51.00 in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Roth Capital reaffirmed a “buy” rating on shares of Enphase Energy in a report on Friday, May 22nd. Finally, Oppenheimer reduced their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average target price of $47.02.

Enphase Energy Stock Down 5.4%

Enphase Energy stock traded down $2.03 during trading hours on Tuesday, reaching $35.98. The stock had a trading volume of 873,047 shares, compared to its average volume of 7,038,419. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 35.38 and a beta of 1.62. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The business’s 50 day moving average price is $51.21 and its 200-day moving average price is $43.79. Enphase Energy has a 52 week low of $25.77 and a 52 week high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.27 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was down 20.6% on a year-over-year basis. Sell-side analysts anticipate that Enphase Energy will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the purchase, the director owned 1,000 shares in the company, valued at approximately $53,910. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,645,632 shares in the company, valued at approximately $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. PFG Investments LLC grew its holdings in Enphase Energy by 2.2% during the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 260 shares during the period. Glass Jacobson Investment Advisors llc grew its stake in shares of Enphase Energy by 77.8% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC lifted its stake in shares of Enphase Energy by 19.2% in 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 during the period. Maryland State Retirement & Pension System lifted its stake in shares of Enphase Energy by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock valued at $845,000 after purchasing an additional 404 shares during the period. Finally, Rakuten Securities Inc. lifted its stake in shares of Enphase Energy by 33.6% in the 2nd quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.