Roth Capital Comments on Enphase Energy, Inc.’s Q1 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPHFree Report) – Research analysts at Roth Capital decreased their Q1 2024 earnings per share estimates for shares of Enphase Energy in a note issued to investors on Wednesday, February 7th. Roth Capital analyst P. Shen now forecasts that the semiconductor company will post earnings per share of $0.03 for the quarter, down from their prior estimate of $0.31. The consensus estimate for Enphase Energy’s current full-year earnings is $2.09 per share. Roth Capital also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.14 EPS, Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $1.36 EPS and FY2025 earnings at $4.30 EPS.

Several other research firms have also recently issued reports on ENPH. StockNews.com cut Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Wells Fargo & Company upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $98.00 to $141.00 in a research report on Monday, January 8th. Oppenheimer raised Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price objective for the company in a research note on Wednesday, February 7th. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Finally, Roth Mkm reduced their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.23.

Read Our Latest Report on ENPH

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $128.90 on Monday. 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 business has a 50 day moving average of $115.80 and a 200 day moving average of $115.02. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 42.12, a PEG ratio of 3.39 and a beta of 1.48. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $231.42.

Insider Transactions 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 of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Badrinarayanan Kothandaraman purchased 1,118 shares of Enphase Energy stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of $90.23 per share, with a total value of $100,877.14. Following the completion of the transaction, the chief executive officer now owns 1,272,015 shares of the company’s stock, valued at approximately $114,773,913.45. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the 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 owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in ENPH. Resurgent Financial Advisors LLC bought a new stake in Enphase Energy during the fourth quarter worth approximately $29,000. KB Financial Partners LLC bought a new position in Enphase Energy in the 1st quarter worth $28,000. Geneos Wealth Management Inc. grew its position in Enphase Energy by 1,400.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Enphase Energy during the 4th quarter valued at about $42,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in Enphase Energy in the second quarter worth $481,000. Institutional investors and hedge funds own 71.05% of the company’s stock.

Enphase Energy Company Profile

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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 services.

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Earnings History and Estimates for Enphase Energy (NASDAQ:ENPH)

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