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

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average recommendation of “Hold” by the twenty-five research firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $44.2375.

ENPH has been the subject of a number of research reports. Glj Research set a $21.70 target price on Enphase Energy in a report on Thursday, February 5th. Weiss Ratings raised Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wells Fargo & Company decreased their target price on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Citigroup decreased their target price on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Wall Street Zen raised Enphase Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 29th.

Enphase Energy Price Performance

ENPH opened at $68.39 on Friday. The business’s 50-day moving average is $43.63 and its two-hundred day moving average is $39.70. 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 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The firm has a market capitalization of $9.01 billion, a PE ratio of 67.71 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. Research analysts anticipate that Enphase Energy will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 700 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the completion of the transaction, the director directly owned 13,922 shares of the company’s stock, valued at $893,792.40. The trade was a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 138,650 shares of company stock valued at $6,062,886 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in ENPH. PFG Investments LLC raised its holdings in Enphase Energy by 2.2% during the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 260 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in Enphase Energy by 5.5% during the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 319 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its position in Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after buying an additional 350 shares in the last quarter. GAMMA Investing LLC increased its position in Enphase Energy by 19.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after buying an additional 392 shares in the last quarter. Finally, Tempus Wealth Planning LLC increased its position in Enphase Energy by 4.8% during the third quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after buying an additional 394 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.