Northland Securities Issues Positive Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price raised by research analysts at Northland Securities from $52.00 to $62.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price objective would indicate a potential upside of 85.79% from the company’s current price.

Several other equities analysts have also commented on ENPH. Zacks Research lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Enphase Energy in a research note on Wednesday, October 8th. Barclays boosted their price target on Enphase Energy from $29.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Oppenheimer set a $67.00 target price on shares of Enphase Energy and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Susquehanna set a $33.00 price target on Enphase Energy in a research report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and thirteen have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $40.57.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded up $0.37 during trading on Monday, hitting $33.37. 1,233,551 shares of the company’s stock were exchanged, compared to its average volume of 6,917,924. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. Enphase Energy has a 52-week low of $25.77 and a 52-week high of $76.90. The business’s 50-day simple moving average is $31.23 and its 200 day simple moving average is $35.27. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 23.05 and a beta of 1.43.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.60 by $0.30. The firm had revenue of $410.43 million for the quarter, compared to the consensus estimate of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, equities analysts predict that Enphase Energy will post 2.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $30.69 per share, with a total value of $153,450.00. Following the purchase, the chief executive officer owned 1,635,632 shares of the company’s stock, valued at $50,197,546.08. The trade was a 0.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mandy Yang sold 6,000 shares of Enphase Energy stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. Following the completion of the sale, the executive vice president owned 68,987 shares in the company, valued at approximately $2,277,260.87. This trade represents a 8.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Enphase Energy

Institutional investors have recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after buying an additional 514 shares during the period. Salomon & Ludwin LLC increased its holdings in Enphase Energy by 761.0% in the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 761 shares during the last quarter. Stance Capital LLC purchased a new position in shares of Enphase Energy in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. increased its stake in Enphase Energy by 199.7% in the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 613 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Enphase Energy during the 3rd quarter worth $39,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.