Enphase Energy, Inc. (NASDAQ:ENPH) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Enphase Energy, with 11 hold, 9 buy and 3 sell recommendations. The average 12-month price target is approximately $45.79.
• Enphase reported quarterly revenue of $291.85 million, slightly exceeding expectations, but adjusted EPS of $0.46 missed estimates by $0.01; revenue declined 19.6% year over year.
• ENPH opened at $36.37, well below its 12-month high of $73.74. Institutional investors own 72.12% of the company, while recent insider activity included one director selling shares and another purchasing shares.

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twenty-three brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $45.7941.

ENPH has been the topic of several recent research reports. UBS Group set a $56.00 target price on shares of Enphase Energy in a research report on Wednesday, July 29th. Jefferies Financial Group raised their target price on Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. BMO Capital Markets reduced their price target on Enphase Energy from $39.00 to $37.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 29th. The Goldman Sachs Group increased their price target on Enphase Energy from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Finally, Evercore reaffirmed a "positive" rating and issued a $41.00 price objective on shares of Enphase Energy in a research note on Monday, August 17th.

Enphase Energy Price Performance

ENPH stock opened at $36.37 on Friday. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $73.74. The firm has a market cap of $4.81 billion, a P/E ratio of 36.37 and a beta of 1.65. The company's 50-day moving average price is $40.27 and its two-hundred day moving average price is $43.42.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted 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). The company had revenue of $291.85 million during the quarter, compared to the consensus estimate of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The firm's revenue was down 19.6% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. On average, analysts anticipate that Enphase Energy will post 0.76 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 2,000 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the transaction, the director directly owned 11,922 shares of the company's stock, valued at $438,252.72. The trade was a 14.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shanker Trivedi bought 1,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the transaction, the director owned 1,000 shares in the company, valued at $53,910. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENPH. Archer Investment Corp purchased a new stake in shares of Enphase Energy in the second quarter worth approximately $30,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position 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 buying an additional 514 shares during the last quarter. Burnham & Co LLC purchased a new position in shares of Enphase Energy during the second quarter valued at approximately $34,000. Continuum Advisory LLC bought a new stake in Enphase Energy during the second quarter worth $42,000. Finally, Ascentis Independent Advisors purchased a new stake in Enphase Energy in the 1st quarter valued at $33,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.

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