Enphase Energy (NASDAQ:ENPH) Cut to “Sell” at Guggenheim

Enphase Energy (NASDAQ:ENPH) was downgraded by equities researchers at Guggenheim from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, Briefing.com reports. They currently have a $92.00 price target on the semiconductor company’s stock. Guggenheim’s price objective suggests a potential downside of 18.93% from the stock’s current price.

Several other equities analysts have also recently commented on ENPH. Susquehanna reaffirmed a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Roth Mkm reissued a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Thursday, April 18th. Finally, StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $145.70.

Enphase Energy Price Performance

ENPH opened at $113.48 on Wednesday. The firm has a 50-day moving average price of $119.28 and a 200-day moving average price of $111.97. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 3.16 and a beta of 1.47. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $228.36. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Equities analysts expect that Enphase Energy will post 2.01 EPS for the current year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 in the last three months. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Donoghue Forlines LLC increased its position in Enphase Energy by 4.8% during the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after purchasing an additional 90 shares during the period. Fermata Advisors LLC grew its position in shares of Enphase Energy by 1.4% in the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after buying an additional 100 shares during the period. Fulton Breakefield Broenniman LLC grew its position in shares of Enphase Energy by 0.9% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after buying an additional 107 shares during the period. VitalStone Financial LLC grew its position in shares of Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after buying an additional 111 shares during the period. Finally, E Fund Management Co. Ltd. grew its position in shares of Enphase Energy by 5.5% in the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after buying an additional 131 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.