Barclays Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $58.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by Barclays from $86.00 to $58.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on ENPH. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Truist Financial restated a “hold” rating and issued a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Oppenheimer raised their target price on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group lowered their price target on Enphase Energy from $54.00 to $44.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.09.

Enphase Energy Trading Up 1.5 %

Shares of NASDAQ:ENPH opened at $52.54 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy has a 52-week low of $47.48 and a 52-week high of $141.63. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 71.00 and a beta of 1.94. The business has a 50-day moving average price of $59.33 and a 200-day moving average price of $69.28.

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

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Coldstream Capital Management Inc. purchased a new stake in Enphase Energy in the third quarter valued at approximately $210,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enphase Energy during the third quarter worth about $239,000. Tidal Investments LLC boosted its position in shares of Enphase Energy by 121.4% in the 3rd quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company’s stock valued at $13,893,000 after purchasing an additional 67,411 shares during the period. Peapack Gladstone Financial Corp purchased a new position in Enphase Energy during the 3rd quarter worth approximately $292,000. Finally, GAMMA Investing LLC lifted its stake in Enphase Energy by 131.9% in the fourth quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company’s stock valued at $339,000 after buying an additional 2,810 shares during 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.