Enphase Energy, Inc. (NASDAQ:ENPH) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.84.

A number of brokerages have recently commented on ENPH. Glj Research boosted their price target on Enphase Energy from $21.70 to $24.47 and gave the company a “sell” rating in a report on Tuesday, July 28th. Barclays reduced their price target on Enphase Energy from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Tuesday. Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Evercore reissued a “positive” rating and set a $41.00 target price on shares of Enphase Energy in a report on Monday, August 17th. Finally, UBS Group set a $56.00 price target on shares of Enphase Energy in a research note on Wednesday, July 29th.

Enphase Energy Stock Performance

ENPH stock opened at $33.50 on Thursday. The business’s 50-day moving average price is $36.78 and its two-hundred day moving average price is $41.83. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48. The firm has a market cap of $4.43 billion, a PE ratio of 33.50 and a beta of 1.64. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $0.69 earnings per share. The firm’s revenue was down 19.6% compared to the same quarter last year. As a group, research analysts forecast that Enphase Energy will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Enphase Energy news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director owned 10,422 shares of the company’s stock, valued at $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in shares of Enphase Energy by 154.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after acquiring an additional 1,283,052 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Enphase Energy in the second quarter valued at $6,766,000. Bank of New York Mellon Corp acquired a new stake in Enphase Energy during the 2nd quarter valued at approximately $43,921,000. SIR Capital Management L.P. acquired a new stake in Enphase Energy during the 2nd quarter worth about $10,858,000. Finally, Bank of America Corp DE acquired a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $19,333,000. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc develops and manufactures energy technology for residential and commercial solar power systems. The company is best known for its microinverters, which convert electricity generated by individual solar panels from direct current into alternating current for use in homes and businesses or delivery to the electric grid.

Its product portfolio also includes battery storage systems, energy management and monitoring software, electric vehicle chargers, and related communications hardware.