Enphase Energy, Inc. (NASDAQ:ENPH) Given Consensus Rating of “Hold” by Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has received a consensus recommendation of “Hold” from the thirty-three analysts that are currently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $68.87.

Several equities analysts have recently weighed in on ENPH shares. Piper Sandler dropped their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. BNP Paribas Exane downgraded Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price target on the stock. in a research note on Tuesday, May 13th. Guggenheim reiterated a “sell” rating and issued a $33.00 price target on shares of Enphase Energy in a report on Wednesday, April 23rd. Mizuho reduced their price objective on Enphase Energy from $81.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial decreased their price objective on Enphase Energy from $65.00 to $49.00 and set a “hold” rating for the company in a report on Thursday, April 24th.

Enphase Energy Stock Up 1.4%

Shares of Enphase Energy stock opened at $50.40 on Monday. The stock’s 50-day moving average is $53.41 and its 200 day moving average is $62.41. Enphase Energy has a one year low of $43.09 and a one year high of $141.63. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 68.11 and a beta of 1.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Insider Activity

In other news, CFO Mandy Yang sold 1,319 shares of the company’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 transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’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 transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of the business. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in shares of Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock valued at $1,305,000 after buying an additional 8,000 shares in the last quarter. Norges Bank acquired a new stake in Enphase Energy in the 4th quarter valued at $46,339,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Enphase Energy in the 4th quarter worth $5,324,000. Y Intercept Hong Kong Ltd acquired a new position in Enphase Energy during the fourth quarter worth $584,000. Finally, Charles Schwab Investment Management Inc. raised its position in Enphase Energy by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company’s stock worth $64,354,000 after acquiring an additional 56,676 shares during the period. 72.12% of the stock is 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.