Enphase Energy (NASDAQ:ENPH) Price Target Cut to $35.00 by Analysts at Susquehanna

Enphase Energy (NASDAQ:ENPH) had its price objective cut by equities researchers at Susquehanna from $37.00 to $35.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target would suggest a potential upside of 9.27% from the stock’s previous close.

A number of other research analysts also recently issued reports on ENPH. Wells Fargo & Company reduced their price objective on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. TD Cowen decreased their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. Royal Bank Of Canada decreased their price objective on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Evercore reaffirmed a “positive” rating and issued a $41.00 target price on shares of Enphase Energy in a research report on Monday, August 17th. Finally, UBS Group set a $56.00 target price on shares of Enphase Energy in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.66.

Enphase Energy Price Performance

ENPH opened at $32.03 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy has a 52-week low of $25.77 and a 52-week high of $73.74. The stock has a market capitalization of $4.23 billion, a PE ratio of 32.03 and a beta of 1.64. The stock’s 50 day moving average price is $36.25 and its 200-day moving average price is $41.55.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results 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 net margin of 10.09% and a return on equity of 13.31%. The business had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. During the same quarter in the prior year, the company earned $0.69 EPS. Enphase Energy’s revenue was down 19.6% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy will post 0.68 EPS for the current year.

Insider Activity at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.36, for a total transaction of $60,540.00. Following the sale, the director owned 10,422 shares in the company, valued at approximately $420,631.92. The trade was a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Archer Investment Corp purchased a new position in Enphase Energy during the second quarter valued at $30,000. Ascentis Independent Advisors bought a new stake in Enphase Energy in the first quarter worth $33,000. Burnham & Co LLC bought a new stake in Enphase Energy in the second quarter worth $34,000. Continuum Advisory LLC purchased a new stake in shares of Enphase Energy in the second quarter worth $42,000. Finally, Allworth Financial LP purchased a new stake in shares of Enphase Energy in the second quarter worth $46,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.