Enphase Energy (NASDAQ:ENPH - Free Report) had its price target decreased by Barclays from $86.00 to $58.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the semiconductor company's stock.
Several other research firms have also recently commented on ENPH. Redburn Atlantic assumed coverage on shares of Enphase Energy in a report on Monday, March 3rd. They set a "neutral" rating on the stock. Craig Hallum reduced their price objective on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, February 5th. Citigroup lowered Enphase Energy from a "neutral" rating to a "negative" rating in a report on Wednesday, March 26th. Oppenheimer lifted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group upgraded Enphase Energy from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $76.00 to $82.00 in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $82.85.
View Our Latest Analysis on ENPH
Enphase Energy Stock Performance
ENPH stock traded down $0.92 on Wednesday, reaching $51.62. The company's stock had a trading volume of 2,780,181 shares, compared to its average volume of 3,981,514. The firm has a fifty day moving average of $59.33 and a two-hundred day moving average of $68.74. The company has a market capitalization of $6.84 billion, a P/E ratio of 69.76 and a beta of 1.94. Enphase Energy has a 52 week low of $47.48 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts predict that Enphase Energy will post 2.08 EPS for the current fiscal year.
Insider Buying and Selling at Enphase Energy
In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company's stock.
Institutional Investors Weigh In On Enphase Energy
A number of institutional investors have recently made changes to their positions in ENPH. QRG Capital Management Inc. purchased a new position in shares of Enphase Energy in the 1st quarter worth $512,000. Janney Montgomery Scott LLC raised its stake in Enphase Energy by 248.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,557 shares of the semiconductor company's stock worth $903,000 after acquiring an additional 10,377 shares during the period. Mission Wealth Management LP purchased a new stake in Enphase Energy in the 1st quarter worth $261,000. Bouvel Investment Partners LLC purchased a new stake in shares of Enphase Energy during the first quarter worth about $847,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Enphase Energy by 28.1% during the first quarter. Exchange Traded Concepts LLC now owns 5,317 shares of the semiconductor company's stock valued at $330,000 after buying an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.
About Enphase Energy
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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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