Enphase Energy (NASDAQ:ENPH) Upgraded to Equal Weight at Barclays

Key Points

• Barclays upgraded Enphase Energy from “underweight” to “equal weight” and assigned a $51 price target, implying about 6.74% upside from the prior close.
• Other analysts remain mixed on the stock: recent updates included a buy from Jefferies and target cuts from several firms, with MarketBeat showing an overall Hold rating and an average target of $46.57.
• Enphase shares were down 4.9% to $47.78 on Thursday, while the company’s latest quarterly results beat EPS expectations but showed revenue down 20.6% year over year.

Enphase Energy (NASDAQ:ENPH - Get Free Report) was upgraded by investment analysts at Barclays from an "underweight" rating to an "equal weight" rating in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $51.00 price objective on the semiconductor company's stock. Barclays's price target would suggest a potential upside of 6.74% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group raised their price target on Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Wells Fargo & Company dropped their price objective on Enphase Energy from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 29th. Oppenheimer reduced their target price on shares of Enphase Energy from $68.00 to $57.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Finally, Evercore set a $37.00 target price on shares of Enphase Energy in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $46.57.

Enphase Energy Trading Down 4.9%

Shares of NASDAQ:ENPH opened at $47.78 on Thursday. The firm has a fifty day moving average of $46.46 and a two-hundred day moving average of $41.33. The company has a quick ratio of 3.20, a current ratio of 3.80 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 firm has a market capitalization of $6.30 billion, a P/E ratio of 47.31 and a beta of 1.60.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.28 million. During the same period in the prior year, the business posted $0.68 earnings per share. Enphase Energy's revenue for the quarter was down 20.6% compared to the same quarter last year. On average, equities analysts expect that Enphase Energy will post 0.84 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 700 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the completion of the sale, the director directly owned 13,922 shares in the company, valued at approximately $893,792.40. The trade was a 4.79% decrease in their position. The transaction 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 firm's stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $53.91 per share, with a total value of $53,910.00. Following the transaction, the director directly owned 1,000 shares of the company's stock, valued at approximately $53,910. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is owned by company insiders.

Institutional Trading of Enphase Energy

Large investors have recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Enphase Energy by 431.9% during the 2nd 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 purchasing an additional 514 shares during the period. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company's stock worth $26,000 after buying an additional 350 shares during the last quarter. Stance Capital LLC acquired a new position in shares of Enphase Energy during the third quarter worth approximately $32,000. Activest Wealth Management boosted its position in shares of Enphase Energy by 52,000.0% in the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 1,040 shares during the period. Finally, Ascentis Independent Advisors bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $33,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Company Profile

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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