Sanford C. Bernstein Upgrades Enphase Energy (NASDAQ:ENPH) to Hold

Enphase Energy (NASDAQ:ENPH) was upgraded by analysts at Sanford C. Bernstein to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

ENPH has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Barclays decreased their target price on shares of Enphase Energy from $31.00 to $30.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Roth Mkm reaffirmed a “buy” rating on shares of Enphase Energy in a report on Friday, May 22nd. Susquehanna decreased their target price on shares of Enphase Energy from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.70.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $47.78 on Tuesday. The company’s fifty day simple moving average is $46.46 and its two-hundred day simple moving average is $41.33. Enphase Energy has a 12-month low of $25.77 and a 12-month high of $73.74. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. The firm has a market cap of $6.30 billion, a PE ratio of 47.31 and a beta of 1.60.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping 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 firm had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. During the same period last year, the company posted $0.68 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts expect that Enphase Energy will post 0.84 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard Mora sold 700 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total transaction of $44,940.00. Following the completion of the transaction, the director owned 13,922 shares in the company, valued at approximately $893,792.40. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $67.50 per share, with a total value of $337,500.00. Following the transaction, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at $111,080,160. The trade was a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. PFG Investments LLC raised its stake in shares of Enphase Energy by 2.2% in the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 260 shares during the period. Swiss Life Asset Management Ltd raised its stake in shares of Enphase Energy by 5.5% in the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 319 shares during the period. Glass Jacobson Investment Advisors llc raised its stake in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 350 shares during the period. GAMMA Investing LLC raised its stake in shares of Enphase Energy by 19.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 392 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in shares of Enphase Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock valued at $845,000 after acquiring an additional 404 shares during the period. Hedge funds and other institutional investors 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.