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

Enphase Energy, Inc. (NASDAQ:ENPH) has earned a consensus recommendation of “Reduce” from the thirty ratings firms that are presently covering the company, MarketBeat.com reports. Thirteen research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.7496.

ENPH has been the subject of a number of recent research reports. TD Cowen decreased their target price on Enphase Energy from $40.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Evercore ISI set a $33.00 price objective on Enphase Energy in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of Enphase Energy in a research note on Wednesday, October 8th. Barclays raised their target price on shares of Enphase Energy from $29.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their price target on shares of Enphase Energy from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th.

Insiders Place Their Bets

In other news, Director Thurman J. Rodgers sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director directly owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. This represents a 7.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 10,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $30.93 per share, for a total transaction of $309,300.00. Following the acquisition, the chief executive officer owned 1,630,632 shares in the company, valued at approximately $50,435,447.76. The trade was a 0.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Enphase Energy by 761.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 761 shares in the last quarter. Stance Capital LLC purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. raised its stake in Enphase Energy by 199.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 613 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in Enphase Energy during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Up 1.0%

Shares of ENPH stock opened at $31.55 on Friday. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $76.90. The company has a 50 day moving average price of $32.26 and a 200 day moving average price of $36.12. The stock has a market capitalization of $4.13 billion, a P/E ratio of 21.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The company had revenue of $410.43 million for the quarter, compared to analyst estimates of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Equities research analysts predict that Enphase Energy will post 2.08 EPS for the current fiscal year.

Enphase Energy Company Profile

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.