Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Enphase Energy, with 12 hold, eight buy and three sell ratings. The average 12-month price target is $45.61.
• Enphase’s latest quarter showed mixed results: revenue of $291.85 million exceeded estimates, but adjusted earnings of $0.46 per share narrowly missed consensus and revenue fell 19.6% year over year.
• Institutional investors own 72.12% of the company, while insider activity was mixed: one director bought $53,910 of shares, but insiders sold $150,933 worth over the past 90 days.

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have received an average recommendation of "Hold" from the twenty-three analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $45.6123.

Several equities analysts have commented on ENPH shares. Jefferies Financial Group raised their target price on shares of Enphase Energy from $41.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, June 12th. Citigroup reduced their price target on shares of Enphase Energy from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Glj Research increased their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the company a "sell" rating in a report on Tuesday, July 28th. Barclays upgraded shares of Enphase Energy from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $30.00 to $51.00 in a research note on Thursday, June 18th. Finally, Mizuho dropped their target price on Enphase Energy from $54.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th.

Insider Buying and Selling at Enphase Energy

In other news, Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction dated 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 transaction, the director owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 2,000 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the sale, the director directly owned 11,922 shares in the company, valued at $438,252.72. This represents a 14.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,400 shares of company stock valued at $150,933. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Enphase Energy during the fourth quarter valued at approximately $118,190,000. Handelsbanken Fonder AB grew its position in Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock worth $103,953,000 after buying an additional 1,283,052 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Enphase Energy in the second quarter worth approximately $43,921,000. Invesco Ltd. grew its position in Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock worth $101,244,000 after buying an additional 839,468 shares during the last quarter. Finally, Sora Investors LLC bought a new position in shares of Enphase Energy in the fourth quarter valued at $25,998,000. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Trading Up 3.4%

Shares of ENPH stock opened at $42.30 on Wednesday. Enphase Energy has a 1 year low of $25.77 and a 1 year high of $73.74. The firm has a market capitalization of $5.59 billion, a PE ratio of 42.30 and a beta of 1.64. The stock has a fifty day moving average of $45.81 and a two-hundred day moving average of $44.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly 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 business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. Enphase Energy's revenue for the quarter was down 19.6% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. As a group, research analysts expect that Enphase Energy will post 0.78 EPS for the current 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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