Analysts Set Enphase Energy, Inc. (NASDAQ:ENPH) PT at $41.09

Enphase Energy, Inc. (NASDAQ:ENPH) has received a consensus recommendation of “Reduce” from the thirty-one brokerages that are currently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $41.0922.

Several analysts have commented on the company. Loop Capital set a $31.00 price target on Enphase Energy in a report on Thursday, October 30th. Raymond James Financial assumed coverage on shares of Enphase Energy in a research note on Monday, January 12th. They set a “market perform” rating for the company. Oppenheimer set a $67.00 target price on shares of Enphase Energy and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Jefferies Financial Group reissued a “hold” rating and issued a $41.00 price objective on shares of Enphase Energy in a research report on Monday, September 29th. Finally, TD Cowen reduced their target price on shares of Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th.

Enphase Energy Trading Down 0.1%

Shares of Enphase Energy stock opened at $39.42 on Friday. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $70.78. The business’s fifty day moving average is $32.47 and its two-hundred day moving average is $34.50. The company has a quick ratio of 1.88, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.16 billion, a PE ratio of 27.19 and a beta of 1.35.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The business had revenue of $410.43 million during the quarter, compared to the consensus estimate of $364.64 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. This trade represents a 7.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mandy Yang sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. This trade represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

Several large investors have recently bought and sold shares of the company. Woodline Partners LP boosted its stake in shares of Enphase Energy by 37.9% in the first quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 3,077 shares during the period. Acadian Asset Management LLC purchased a new position in Enphase Energy in the 1st quarter valued at about $121,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Enphase Energy by 58.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,188 shares of the semiconductor company’s stock valued at $647,000 after acquiring an additional 5,632 shares in the last quarter. CX Institutional grew its stake in shares of Enphase Energy by 135.4% during the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 623 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Enphase Energy by 60.7% during the second quarter. Fifth Third Bancorp now owns 5,925 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 2,237 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.