Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Rating of “Hold” from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has been given a consensus recommendation of “Hold” by the twenty-three brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $45.7941.

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Glj Research increased their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the company a “sell” rating in a report on Tuesday, July 28th. Evercore restated a “positive” rating and set a $41.00 price objective on shares of Enphase Energy in a research report on Monday, August 17th. UBS Group set a $56.00 target price on Enphase Energy in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group boosted their target price on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction that occurred 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 sale, the director owned 10,422 shares of the company’s stock, valued at $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ENPH. Woodline Partners LP lifted its position in Enphase Energy by 37.9% during 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 last quarter. Acadian Asset Management LLC purchased a new stake in shares of Enphase Energy during the 1st quarter valued at about $121,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Enphase Energy during the 2nd quarter valued at about $1,299,000. Guggenheim Capital LLC lifted its holdings in shares of Enphase Energy by 14.1% in the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after acquiring an additional 3,273 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Enphase Energy by 11.9% in the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock worth $9,468,000 after acquiring an additional 25,450 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Trading Up 0.4%

ENPH stock opened at $36.86 on Friday. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74. 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 company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 36.86 and a beta of 1.65. The business has a 50 day simple moving average of $39.50 and a two-hundred day simple moving average of $43.18.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data 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 company had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s quarterly revenue was down 19.6% on a year-over-year basis. Research analysts anticipate that Enphase Energy will post 0.76 EPS for the current fiscal year.

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.