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

Key Points

• Enphase Energy, Inc. has received an average consensus rating of "Reduce" from 36 brokerages, with 13 sell ratings, 13 hold ratings, and 10 buy ratings.
• The average 12-month price target for Enphase Energy shares among brokers is $55.51, reflecting a range of recent price adjustments from various analysts with ratings from "overweight" to "sell."
• Enphase Energy reported a 19.7% year-over-year revenue increase for the last quarter, with earnings per share of $0.69, surpassing estimates by $0.07.

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have earned a consensus rating of "Reduce" from the thirty-six brokerages that are covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $55.51.

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Enphase Energy from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada set a $28.00 price objective on shares of Enphase Energy and gave the stock a "sector perform" rating in a report on Wednesday, June 18th. Piper Sandler decreased their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Citigroup decreased their price objective on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating for the company in a report on Thursday, June 5th. Finally, Oppenheimer decreased their price objective on shares of Enphase Energy from $86.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CX Institutional acquired a new position in Enphase Energy in the first quarter worth about $29,000. First Horizon Advisors Inc. raised its position in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 258 shares in the last quarter. SVB Wealth LLC acquired a new position in Enphase Energy in the first quarter worth about $38,000. Brooklyn Investment Group raised its position in Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Trading Down 2.9%

Enphase Energy stock opened at $31.43 on Friday. The company's fifty day simple moving average is $39.81 and its 200-day simple moving average is $51.01. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. Enphase Energy has a 12 month low of $31.13 and a 12 month high of $130.08. The stock has a market cap of $4.11 billion, a P/E ratio of 24.55 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. Enphase Energy's revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. As a group, sell-side analysts forecast that Enphase Energy will post 2.08 EPS for the current fiscal year.

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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