Enphase Energy (NASDAQ:ENPH) Cut to “Sell” at Guggenheim

Enphase Energy (NASDAQ:ENPH) was downgraded by equities research analysts at Guggenheim from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, Briefing.com reports. They currently have a $92.00 price target on the semiconductor company’s stock. Guggenheim’s price target would suggest a potential downside of 18.93% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Truist Financial reduced their target price on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Oppenheimer upgraded shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 target price for the company in a report on Wednesday, February 7th. Mizuho dropped their price target on Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Susquehanna restated a “positive” rating and set a $140.00 price target on shares of Enphase Energy in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $145.70.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $113.48 on Wednesday. The company has a market capitalization of $15.43 billion, a PE ratio of 37.09, a P/E/G ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The company has a 50-day simple moving average of $119.28 and a two-hundred day simple moving average of $111.97. Enphase Energy has a one year low of $73.49 and a one year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. TriaGen Wealth Management LLC grew its holdings in Enphase Energy by 4.0% in the 1st quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 241 shares in the last quarter. United Asset Strategies Inc. grew its holdings in Enphase Energy by 2.3% in the 1st quarter. United Asset Strategies Inc. now owns 6,346 shares of the semiconductor company’s stock valued at $768,000 after buying an additional 141 shares in the last quarter. Fifth Third Bancorp grew its holdings in Enphase Energy by 67.5% in the 1st quarter. Fifth Third Bancorp now owns 5,171 shares of the semiconductor company’s stock valued at $626,000 after buying an additional 2,083 shares in the last quarter. Mount Vernon Associates Inc. MD grew its holdings in Enphase Energy by 2.7% in the 1st quarter. Mount Vernon Associates Inc. MD now owns 10,225 shares of the semiconductor company’s stock valued at $1,237,000 after buying an additional 270 shares in the last quarter. Finally, PFG Investments LLC grew its holdings in Enphase Energy by 80.7% in the 1st quarter. PFG Investments LLC now owns 18,382 shares of the semiconductor company’s stock valued at $2,224,000 after buying an additional 8,208 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.