Barclays Issues Positive Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target upped by research analysts at Barclays from $28.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the semiconductor company's stock. Barclays's price target would suggest a potential downside of 18.06% from the stock's previous close.

A number of other brokerages have also recently issued reports on ENPH. BNP Paribas Exane cut Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price for the company. in a research report on Tuesday, May 13th. Canaccord Genuity Group decreased their target price on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Oppenheimer decreased their price objective on Enphase Energy from $86.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday. Susquehanna decreased their price objective on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Bank of America decreased their price objective on Enphase Energy from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Wednesday. Thirteen investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and an average target price of $58.57.

Enphase Energy Trading Down 3.0%

Shares of ENPH stock traded down $1.09 on Thursday, hitting $35.39. The stock had a trading volume of 5,635,563 shares, compared to its average volume of 6,371,774. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. The firm has a market capitalization of $4.64 billion, a P/E ratio of 27.71 and a beta of 1.67. Enphase Energy has a 1 year low of $33.01 and a 1 year high of $130.08. The company's 50 day moving average price is $41.54 and its 200-day moving average price is $52.71.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Enphase Energy had a return on equity of 24.70% and a net margin of 11.78%. The firm had revenue of $363.15 million during the quarter, compared to analysts' expectations of $359.14 million. During the same period in the previous year, the firm posted $0.43 EPS. Enphase Energy's revenue for the quarter was up 19.7% on a year-over-year basis. Analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer directly owned 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Baillie Gifford & Co. increased its holdings in Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after buying an additional 2,680,567 shares during the last quarter. Invesco Ltd. increased its holdings in Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after buying an additional 1,378,978 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 827.3% in the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company's stock valued at $45,698,000 after buying an additional 1,028,259 shares during the last quarter. AQR Capital Management LLC increased its holdings in Enphase Energy by 9,236.6% in the first quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company's stock valued at $41,483,000 after buying an additional 684,157 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in Enphase Energy by 531.4% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock valued at $55,342,000 after buying an additional 678,163 shares during the last quarter. Institutional investors and hedge funds 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.

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