Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Rating of “Reduce” from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has been assigned a consensus rating of “Reduce” from the thirty-one ratings firms that are covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $41.1293.

Several research analysts have recently commented on ENPH shares. Barclays boosted their price objective on Enphase Energy from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. decreased their price objective on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Mizuho set a $38.00 target price on shares of Enphase Energy in a research note on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Enphase Energy in a report on Thursday, January 22nd. Finally, Citigroup upgraded shares of Enphase Energy from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $31.00 to $37.00 in a report on Thursday, January 22nd.

Enphase Energy Stock Down 3.3%

Enphase Energy stock opened at $36.98 on Friday. The firm has a 50 day moving average price of $33.43 and a 200-day moving average price of $34.52. The company has a quick ratio of 1.88, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. Enphase Energy has a twelve month low of $25.77 and a twelve month high of $70.78. The company has a market capitalization of $4.84 billion, a P/E ratio of 25.50 and a beta of 1.35.

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

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $30.69 per share, with a total value of $153,450.00. Following the completion of the transaction, the chief executive officer owned 1,635,632 shares of the company’s stock, valued at $50,197,546.08. This represents a 0.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mandy Yang sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the sale, the executive vice president owned 68,987 shares in the company, valued at $2,277,260.87. The trade was 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 added to or reduced their stakes in the business. ProShare Advisors LLC raised its holdings in shares of Enphase Energy by 29.4% in the second quarter. ProShare Advisors LLC now owns 55,319 shares of the semiconductor company’s stock worth $2,193,000 after buying an additional 12,577 shares during the period. Quantbot Technologies LP raised its holdings in shares of Enphase Energy by 74.8% in the second quarter. Quantbot Technologies LP now owns 91,084 shares of the semiconductor company’s stock valued at $3,611,000 after acquiring an additional 38,982 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Enphase Energy by 384.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 71,589 shares of the semiconductor company’s stock valued at $2,533,000 after purchasing an additional 56,818 shares in the last quarter. Natixis lifted its holdings in Enphase Energy by 46.7% during the second quarter. Natixis now owns 215,023 shares of the semiconductor company’s stock worth $8,526,000 after buying an additional 68,472 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Enphase Energy by 1,246.8% during the 3rd quarter. Nordea Investment Management AB now owns 158,948 shares of the semiconductor company’s stock worth $5,652,000 after purchasing an additional 147,146 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.