Guggenheim Lowers Enphase Energy (NASDAQ:ENPH) to Sell

Guggenheim downgraded shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to a sell rating in a research note published on Wednesday, Marketbeat reports. Guggenheim currently has $92.00 price target on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the stock. 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 research note on Wednesday, February 7th. Truist Financial lowered their target price on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research note on Tuesday. Canaccord Genuity Group started coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a buy rating and a $142.00 target price for the company. Wells Fargo & Company upgraded shares of Enphase Energy from an equal weight rating to an overweight rating and raised their target price for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Finally, Citigroup downgraded shares of Enphase Energy from a buy rating to a neutral rating and lowered their target price for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has an average rating of Hold and a consensus target price of $137.41.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $111.93 on Wednesday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47. The company’s 50 day moving average is $118.22 and its 200 day moving average is $111.90. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, sell-side analysts anticipate that Enphase Energy will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy 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 owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated 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 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. Over the last quarter, insiders sold 54,285 shares of company stock valued at $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC acquired a new position in Enphase Energy during the fourth quarter worth about $26,000. CVA Family Office LLC acquired a new position in Enphase Energy during the fourth quarter worth about $31,000. YHB Investment Advisors Inc. acquired a new position in Enphase Energy during the first quarter worth about $35,000. Parkside Financial Bank & Trust boosted its position in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares during the last quarter. Finally, Covestor Ltd boosted its position in Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.