Glj Research Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price lowered by analysts at Glj Research from $50.69 to $31.11 in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has a "sell" rating on the semiconductor company's stock. Glj Research's price objective suggests a potential downside of 30.07% from the company's current price.

Several other brokerages have also weighed in on ENPH. Citigroup reaffirmed a "sell" rating and issued a $47.00 target price on shares of Enphase Energy in a research report on Thursday, April 17th. Truist Financial lowered their price objective on Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Mizuho lowered their target price on shares of Enphase Energy from $81.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Craig Hallum cut their target price 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $54.00 price target (down from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $70.54.

Enphase Energy Trading Down 6.7 %

NASDAQ ENPH traded down $3.22 during trading hours on Friday, reaching $44.49. The company had a trading volume of 3,059,742 shares, compared to its average volume of 4,031,669. The stock has a market capitalization of $5.84 billion, a P/E ratio of 60.12 and a beta of 1.94. The stock has a 50-day moving average of $57.07 and a 200 day moving average of $66.29. Enphase Energy has a 1-year low of $44.24 and a 1-year high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates 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, research analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently bought and sold shares of the business. CX Institutional bought a new stake in shares of Enphase Energy in the 1st quarter worth about $29,000. First Horizon Advisors Inc. raised its holdings in Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after buying an additional 258 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after buying an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Enphase Energy in the 4th quarter worth about $47,000. Finally, GeoWealth Management LLC increased its position in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares during the period. Institutional investors own 72.12% of the company's stock.

Enphase Energy Company Profile

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.