Enphase Energy (NASDAQ:ENPH) Downgraded by Jefferies Financial Group

Enphase Energy (NASDAQ:ENPH) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $111.00 price objective on the semiconductor company’s stock, down from their prior price objective of $135.00. Jefferies Financial Group’s target price points to a potential upside of 3.71% from the stock’s previous close.

ENPH has been the topic of a number of other research reports. Susquehanna restated a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Citigroup downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. B. Riley increased their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial cut their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Roth Mkm reiterated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.97.

Enphase Energy Trading Down 5.7 %

ENPH traded down $6.45 during trading on Wednesday, hitting $107.03. The company’s stock had a trading volume of 7,891,145 shares, compared to its average volume of 4,133,403. The stock’s fifty day moving average price is $119.28 and its 200-day moving average price is $111.97. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $228.36. The firm has a market capitalization of $14.56 billion, a P/E ratio of 35.14, a PEG ratio of 3.16 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (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 analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Analysts anticipate that Enphase Energy will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,285 shares of company stock worth $4,054,428. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Norges Bank acquired a new stake in Enphase Energy in the 4th quarter valued at about $149,425,000. Nordea Investment Management AB raised its position in shares of Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after acquiring an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Enphase Energy in the 4th quarter valued at approximately $41,068,000. Finally, Panagora Asset Management Inc. boosted its stake in shares of Enphase Energy by 3,396.9% in the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after buying an additional 255,175 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.