Sanford C. Bernstein Upgrades Enphase Energy (NASDAQ:ENPH) to Hold

Enphase Energy (NASDAQ:ENPH) was upgraded by research analysts at Sanford C. Bernstein to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on ENPH. TD Cowen raised their price target on shares of Enphase Energy from $35.00 to $70.00 and gave the company a “hold” rating in a report on Friday, May 29th. Oppenheimer lowered their price target on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Roth Mkm restated a “buy” rating on shares of Enphase Energy in a report on Friday, May 22nd. Weiss Ratings cut shares of Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 5th. Finally, Susquehanna lowered their price target on shares of Enphase Energy from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.70.

Enphase Energy Trading Down 4.9%

NASDAQ ENPH opened at $47.78 on Tuesday. The company’s 50-day moving average price is $46.46 and its 200-day moving average price is $41.33. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.30 billion, a PE ratio of 47.31 and a beta of 1.60. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $73.74.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.28 million. During the same period in the prior year, the business earned $0.68 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. Equities research analysts forecast that Enphase Energy will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $67.50 per share, with a total value of $337,500.00. Following the acquisition, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. This trade represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shanker Trivedi bought 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Enphase Energy by 431.9% in the second 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 buying an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in shares of Enphase Energy by 77.8% in 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 in the last quarter. Stance Capital LLC purchased a new position in shares of Enphase Energy in the third quarter worth about $32,000. Activest Wealth Management lifted its stake 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 worth $33,000 after buying an additional 1,040 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new position in shares of Enphase Energy in the first quarter worth about $33,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.