Citigroup Reiterates “Sell” Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH)‘s stock had its “sell” rating reiterated by research analysts at Citigroup in a research report issued on Thursday,Benzinga reports. They currently have a $47.00 target price on the semiconductor company’s stock. Citigroup’s target price indicates a potential downside of 9.18% from the stock’s previous close.

Several other analysts have also commented on the stock. TD Cowen reduced their price target on shares of Enphase Energy from $94.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Craig Hallum reduced their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group decreased their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler reduced their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Glj Research reaffirmed a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus price target of $86.72.

Enphase Energy Stock Down 2.5 %

ENPH stock opened at $51.75 on Thursday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average of $59.74 and a two-hundred day moving average of $70.10. Enphase Energy has a 12 month low of $47.48 and a 12 month high of $141.63. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 69.93 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts forecast that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in ENPH. Wealth Enhancement Advisory Services LLC increased its position in Enphase Energy by 47.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,556 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 3,089 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Enphase Energy by 42.4% during the first quarter. Fifth Third Bancorp now owns 3,688 shares of the semiconductor company’s stock worth $229,000 after purchasing an additional 1,098 shares during the period. CX Institutional purchased a new position in Enphase Energy in the 1st quarter valued at $29,000. Handelsbanken Fonder AB increased its stake in Enphase Energy by 181.9% in the 1st quarter. Handelsbanken Fonder AB now owns 747,224 shares of the semiconductor company’s stock valued at $46,365,000 after buying an additional 482,110 shares during the period. Finally, Abacus FCF Advisors LLC raised its position in Enphase Energy by 376.6% during the 1st quarter. Abacus FCF Advisors LLC now owns 73,171 shares of the semiconductor company’s stock worth $4,540,000 after buying an additional 57,817 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.