Enphase Energy (NASDAQ:ENPH) Now Covered by Glj Research

Stock analysts at Glj Research began coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued on Tuesday, Benzinga reports. The firm set a “sell” rating and a $45.82 price target on the semiconductor company’s stock. Glj Research’s target price suggests a potential downside of 55.49% from the company’s current price.

A number of other research analysts have also commented on ENPH. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Oppenheimer upped their target price on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Truist Financial lowered their price target on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. B. Riley boosted their price objective on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada lowered their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and an average target price of $133.71.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $102.95 on Tuesday. The business’s fifty day moving average is $117.26 and its 200 day moving average is $118.00. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 4.02 and a beta of 1.77. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company had revenue of $263.34 million for the quarter, compared to the consensus estimate of $280.06 million. Research analysts predict that Enphase Energy will post 1.49 EPS for the current year.

Insider Activity at Enphase Energy

In related news, CFO Mandy Yang purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the acquisition, the chief financial officer now directly owns 62,973 shares in the company, valued at approximately $6,564,305.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mandy Yang bought 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the acquisition, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Insiders sold a total of 349,526 shares of company stock worth $43,721,225 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. GAMMA Investing LLC purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $206,000. Legato Capital Management LLC purchased a new position in shares of Enphase Energy in the 4th quarter worth about $1,542,000. Assenagon Asset Management S.A. grew its position in Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after purchasing an additional 173,628 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in Enphase Energy during the 4th quarter valued at about $566,000. Finally, Glenmede Trust Co. NA increased its stake in Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 1,521 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.