Enphase Energy, Inc. (NASDAQ:ENPH) Receives $40.57 Consensus Price Target from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has been given a consensus rating of “Reduce” by the thirty-one brokerages that are currently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $40.5737.

A number of research firms recently weighed in on ENPH. Wall Street Zen cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Morgan Stanley reduced their target price on Enphase Energy from $28.00 to $26.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Northland Securities lifted their price target on shares of Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 29th. Evercore ISI set a $33.00 price target on shares of Enphase Energy in a report on Wednesday, October 29th. Finally, Glj Research upped their price objective on shares of Enphase Energy from $19.80 to $23.49 and gave the stock a “sell” rating in a research report on Tuesday, September 23rd.

Enphase Energy Stock Performance

ENPH opened at $33.75 on Tuesday. The firm has a fifty day moving average price of $30.84 and a 200 day moving average price of $34.97. Enphase Energy has a 1 year low of $25.77 and a 1 year high of $76.90. The stock has a market cap of $4.42 billion, a P/E ratio of 23.28 and a beta of 1.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88.

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

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman acquired 10,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $30.93 per share, for a total transaction of $309,300.00. Following the purchase, the chief executive officer owned 1,630,632 shares in the company, valued at approximately $50,435,447.76. This represents a 0.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total value of $4,369,500.00. Following the completion of the transaction, the director owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. This trade represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Enphase Energy by 761.0% in the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after buying an additional 761 shares in the last quarter. Stance Capital LLC acquired a new position in Enphase Energy during the third quarter worth about $32,000. Geneos Wealth Management Inc. grew 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 valued at $33,000 after acquiring an additional 613 shares in the last quarter. Finally, CX Institutional raised its holdings in Enphase Energy by 135.4% in the 2nd quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 623 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.