Enphase Energy (NASDAQ:ENPH) Stock Price Target Lowered at Glj Research

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by investment analysts at Glj Research from $24.47 to $21.49 in a research note issued on Monday, Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. Glj Research‘s price objective indicates a potential downside of 29.22% from the stock’s previous close.

Several other analysts also recently commented on ENPH. The Goldman Sachs Group cut their price objective on shares of Enphase Energy from $55.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Royal Bank Of Canada cut their target price on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Mizuho reduced their price target on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Citigroup decreased their price objective on Enphase Energy from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 29th. Finally, Susquehanna cut their price objective on Enphase Energy from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average target price of $42.98.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $30.36 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The stock has a 50 day moving average price of $34.58 and a two-hundred day moving average price of $41.14. The company has a market capitalization of $4.01 billion, a P/E ratio of 30.36 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%. The business had revenue of $291.85 million during the quarter, compared to the consensus estimate of $289.76 million. During the same quarter in the prior year, the business posted $0.69 earnings per share. Enphase Energy’s quarterly revenue was down 19.6% compared to the same quarter last year. Analysts expect that Enphase Energy will post 0.66 earnings per share for the current year.

Insider Transactions at Enphase Energy

In related news, Director Richard Mora sold 1,500 shares of the business’s 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 transaction, the director directly owned 10,422 shares of the company’s stock, valued at approximately $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Handelsbanken Fonder AB increased its holdings in shares of Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Enphase Energy by 42.4% during the 1st quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock valued at $69,359,000 after acquiring an additional 546,460 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Enphase Energy by 37.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,361,157 shares of the semiconductor company’s stock valued at $51,459,000 after acquiring an additional 373,212 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Enphase Energy by 79.2% in the first quarter. Principal Financial Group Inc. now owns 1,112,067 shares of the semiconductor company’s stock valued at $42,047,000 after purchasing an additional 491,488 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Enphase Energy in the second quarter valued at $43,921,000. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.