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

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average rating of “Moderate Buy” by the thirty research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $149.88.

A number of research analysts have weighed in on ENPH shares. Piper Sandler reduced their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Royal Bank of Canada initiated coverage on Enphase Energy in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price target on the stock. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Thursday. Finally, Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd.

Insider Activity

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently bought and sold shares of the stock. Bogart Wealth LLC bought a new position in Enphase Energy in the 4th quarter worth $26,000. LM Advisors LLC purchased a new stake in Enphase Energy in the 4th quarter worth $26,000. KB Financial Partners LLC purchased a new stake in Enphase Energy in the 1st quarter worth $28,000. First Capital Advisors Group LLC. purchased a new stake in Enphase Energy in the 2nd quarter worth $28,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Enphase Energy in the 4th quarter worth $29,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Trading Down 2.5 %

ENPH opened at $106.48 on Friday. Enphase Energy has a one year low of $73.49 and a one year high of $228.36. The business has a 50 day simple moving average of $119.85 and a two-hundred day simple moving average of $112.08. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.02 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Analysts predict that Enphase Energy will post 2.09 EPS for the current year.

About Enphase Energy

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.