Enphase Energy, Inc. (NASDAQ:ENPH) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Enphase Energy currently has a consensus analyst rating of "Hold" from 25 brokerage firms, with 4 sell, 12 hold, and 9 buy ratings. The average 1-year price target is about $47.11.
• Recent analyst actions have been mixed, including Wells Fargo lowering its target to $45, while Barclays raised its target to $51 and upgraded the stock to equal weight. Other firms, including Morgan Stanley and Susquehanna, also issued updated price targets.
• The company reported better-than-expected Q1 earnings of $0.47 per share, but revenue still fell 20.6% year over year to $282.9 million. Insiders have also been buying shares, and institutional investors own 72.12% of the stock.

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-five research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $47.1125.

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Enphase Energy from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Enphase Energy from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. Barclays raised shares of Enphase Energy from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $30.00 to $51.00 in a report on Thursday, June 18th. Morgan Stanley set a $27.00 price target on shares of Enphase Energy in a research note on Friday, May 8th. Finally, Susquehanna boosted their price target on shares of Enphase Energy from $32.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, July 10th.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Shanker Trivedi purchased 1,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $67.50 per share, with a total value of $337,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. The trade was a 0.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Handelsbanken Fonder AB lifted its stake in Enphase Energy by 154.9% during the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock worth $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Enphase Energy in the second quarter valued at approximately $48,000. Assenagon Asset Management S.A. raised its holdings in Enphase Energy by 102.6% during the second quarter. Assenagon Asset Management S.A. now owns 55,495 shares of the semiconductor company's stock worth $2,733,000 after purchasing an additional 28,100 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Enphase Energy during the 1st quarter worth approximately $151,000. Finally, Militia Capital Management LLC purchased a new stake in shares of Enphase Energy during the 1st quarter worth approximately $688,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Stock Up 1.2%

Shares of NASDAQ ENPH opened at $41.57 on Friday. The stock has a market cap of $5.48 billion, a P/E ratio of 41.16 and a beta of 1.62. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. Enphase Energy has a 12-month low of $25.77 and a 12-month high of $73.74. The business's fifty day simple moving average is $51.92 and its 200-day simple moving average is $43.48.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.27 million. During the same period last year, the business posted $0.68 earnings per share. Enphase Energy's revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts predict that Enphase Energy will post 0.82 EPS for the current fiscal year.

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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