Wells Fargo & Company Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective cut by equities research analysts at Wells Fargo & Company from $77.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 21.65% from the stock’s previous close.

ENPH has been the topic of several other reports. Barclays lowered their price objective on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective for the company in a research note on Friday, January 31st. Craig Hallum decreased their price objective on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Redburn Atlantic started coverage on shares of Enphase Energy in a report on Monday, March 3rd. They set a “neutral” rating for the company. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.36.

Enphase Energy Trading Up 1.5 %

Shares of ENPH stock opened at $61.65 on Thursday. Enphase Energy has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 83.31 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The stock has a 50 day simple moving average of $62.24 and a 200-day simple moving average of $75.88.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities research analysts expect that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Enphase Energy in the third quarter valued at $37,000. Brooklyn Investment Group acquired a new stake in Enphase Energy in the 3rd quarter valued at about $55,000. Venturi Wealth Management LLC raised its position in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Enphase Energy in the 4th quarter valued at about $47,000. Finally, GeoWealth Management LLC grew its position in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.