Jefferies Financial Group Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target decreased by analysts at Jefferies Financial Group from $54.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the semiconductor company’s stock. Jefferies Financial Group’s target price suggests a potential downside of 23.17% from the stock’s current price.

Other analysts have also issued research reports about the stock. Oppenheimer upped their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Barclays reduced their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Piper Sandler cut their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley reduced their target price on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price objective on Enphase Energy from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.79.

Enphase Energy Trading Down 2.6 %

ENPH opened at $57.27 on Thursday. Enphase Energy has a fifty-two week low of $51.63 and a fifty-two week high of $141.63. The firm has a market capitalization of $7.59 billion, a PE ratio of 77.39 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 company’s 50-day moving average is $62.00 and its 200 day moving average is $74.21.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, research analysts predict that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Enphase Energy during the third quarter worth about $37,000. Venturi Wealth Management LLC grew its stake in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after buying an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy in the 4th quarter worth $47,000. GeoWealth Management LLC raised its position in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 321 shares in the last quarter. Finally, Sava Infond d.o.o. bought a new stake in shares of Enphase Energy during the 4th quarter worth $69,000. 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.