Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) PT at $45.61

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $45.6123.

ENPH has been the topic of several recent research reports. TD Cowen lowered their price target on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Mizuho decreased their price objective on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Evercore set a $37.00 target price on Enphase Energy in a research report on Monday, May 4th. The Goldman Sachs Group upped their target price on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $30.00 to $51.00 in a research report on Thursday, June 18th.

Enphase Energy Price Performance

Shares of ENPH opened at $40.48 on Wednesday. The stock has a market capitalization of $5.35 billion, a P/E ratio of 40.48 and a beta of 1.64. Enphase Energy has a twelve month low of $25.77 and a twelve month high of $73.74. The company has a 50 day moving average of $44.38 and a 200-day moving average of $44.10. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that Enphase Energy will post 0.78 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was 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 approximately $420,631.92. This represents a 12.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 4,900 shares of company stock worth $211,473 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Enphase Energy

Large investors have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of 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. Activest Wealth Management lifted its stake in Enphase Energy by 52,000.0% in the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,040 shares during the last quarter. Ascentis Independent Advisors bought a new position in Enphase Energy during the first quarter worth about $33,000. Burnham & Co LLC bought a new position in Enphase Energy during the second quarter worth about $34,000. Finally, Danske Bank A S acquired a new position in Enphase Energy during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.