Enphase Energy, Inc. (NASDAQ:ENPH) Given Consensus Rating of “Hold” by Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has earned an average rating of “Hold” from the thirty-three ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $89.79.

A number of research analysts have weighed in on the company. Barclays decreased their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price for the company in a research note on Friday, January 31st. Truist Financial reaffirmed a “hold” rating and set a $65.00 price target (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. BMO Capital Markets cut their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Enphase Energy Stock Down 6.0 %

Enphase Energy stock opened at $58.77 on Friday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a fifty day simple moving average of $62.12 and a 200 day simple moving average of $74.59. The company has a market cap of $7.79 billion, a P/E ratio of 79.42 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share 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%. Research analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in Enphase Energy in the third quarter valued at about $37,000. Venturi Wealth Management LLC grew its holdings in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the 4th quarter worth approximately $47,000. Brooklyn Investment Group bought a new position in Enphase Energy in the 3rd quarter valued at approximately $55,000. Finally, GeoWealth Management LLC boosted its position in Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.