Enphase Energy, Inc. (NASDAQ:ENPH) Stock Has Consensus Price Target of $44.20

Enphase Energy, Inc. (NASDAQ:ENPH) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $44.20.

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their price target on Enphase Energy from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Enphase Energy in a research report on Friday, September 18th. Susquehanna lowered their target price on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group dropped their target price on shares of Enphase Energy from $55.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Finally, Glj Research upped their price target on shares of Enphase Energy from $21.70 to $24.47 and gave the company a “sell” rating in a research note on Tuesday, July 28th.

Insider Buying and Selling at Enphase Energy

In related news, Director Richard Mora sold 1,500 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the transaction, the director directly owned 10,422 shares of the company’s stock, valued at $420,631.92. This represents a 12.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Sequoia Financial Advisors LLC acquired a new stake in shares of Enphase Energy during the second quarter worth about $364,000. Tidal Investments LLC increased its holdings in Enphase Energy by 75.1% in the 2nd quarter. Tidal Investments LLC now owns 39,360 shares of the semiconductor company’s stock worth $1,938,000 after buying an additional 16,883 shares during the period. Engineers Gate Manager LP purchased a new position in Enphase Energy during the 2nd quarter worth approximately $8,670,000. GFG Capital LLC acquired a new stake in Enphase Energy during the 2nd quarter valued at approximately $208,000. Finally, Nykredit A S purchased a new stake in shares of Enphase Energy in the 2nd quarter valued at $260,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 2.0%

Enphase Energy stock opened at $33.47 on Thursday. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74. The business has a fifty day moving average price of $36.95 and a 200-day moving average price of $42.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 33.47 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down 19.6% on a year-over-year basis. Equities research analysts forecast that Enphase Energy will post 0.69 EPS for the current fiscal year.

About Enphase Energy

Enphase Energy, Inc develops and manufactures energy technology for residential and commercial solar power systems. The company is best known for its microinverters, which convert electricity generated by individual solar panels from direct current into alternating current for use in homes and businesses or delivery to the electric grid.

Its product portfolio also includes battery storage systems, energy management and monitoring software, electric vehicle chargers, and related communications hardware.