Enphase Energy’s (ENPH) “Neutral” Rating Reiterated at Piper Sandler

Enphase Energy (NASDAQ:ENPH)‘s stock had its “neutral” rating reaffirmed by Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They presently have a $111.00 target price on the semiconductor company’s stock, down from their prior target price of $113.00. Piper Sandler’s price objective would indicate a potential upside of 3.23% from the company’s current price.

Several other equities research analysts also recently issued reports on ENPH. B. Riley raised their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada started coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 target price for the company. Citigroup downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Morgan Stanley increased their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, DZ Bank started coverage on shares of Enphase Energy in a report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price target on the stock. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $140.27.

Enphase Energy Stock Down 5.2 %

Shares of Enphase Energy stock traded down $5.95 during trading hours on Wednesday, reaching $107.53. 7,731,711 shares of the company’s stock were exchanged, compared to its average volume of 4,130,749. The company has a 50 day moving average of $119.28 and a two-hundred day moving average of $111.97. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The stock has a market cap of $14.62 billion, a P/E ratio of 35.50, a P/E/G ratio of 3.16 and a beta of 1.47.

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

Insider Buying and Selling at Enphase Energy

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in Enphase Energy during the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new position in Enphase Energy during the fourth quarter worth about $31,000. Parkside Financial Bank & Trust boosted its holdings in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the last quarter. Addison Advisors LLC boosted its stake in Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Enphase Energy by 194.6% in the fourth quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 218 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.