Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average rating of “Reduce” by the thirty-one brokerages that are presently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $41.0922.

ENPH has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Enphase Energy in a research note on Thursday, January 22nd. The Goldman Sachs Group raised shares of Enphase Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $45.00 in a research note on Tuesday, January 20th. JPMorgan Chase & Co. cut their price target on shares of Enphase Energy from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Loop Capital set a $31.00 price objective on shares of Enphase Energy in a research note on Thursday, October 30th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $31.00 target price on shares of Enphase Energy in a research note on Wednesday, October 29th.

Enphase Energy Trading Up 1.4%

Shares of NASDAQ ENPH opened at $40.47 on Friday. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $70.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. The business’s 50 day moving average is $32.99 and its two-hundred day moving average is $34.53. The stock has a market capitalization of $5.30 billion, a P/E ratio of 27.91 and a beta of 1.35.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The firm had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, research analysts expect that Enphase Energy will post 2.08 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the stock in a transaction dated Friday, October 31st. The stock was purchased at an average cost of $30.93 per share, with a total value of $309,300.00. Following the completion of the purchase, the chief executive officer owned 1,630,632 shares of the company’s stock, valued at $50,435,447.76. This trade represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mandy Yang sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. Following the completion of the transaction, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. This represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in Enphase Energy by 77.8% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares during the period. Salomon & Ludwin LLC raised its position in Enphase Energy by 761.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. Stance Capital LLC purchased a new stake in shares of Enphase Energy in the 3rd quarter worth $32,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Enphase Energy by 199.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock worth $33,000 after buying an additional 613 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.