Enphase Energy, Inc. (NASDAQ:ENPH) Receives $90.42 Consensus Target Price from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has been given an average recommendation of “Hold” by the thirty-three brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $90.42.

ENPH has been the topic of several research analyst reports. Glj Research restated a “sell” rating and issued a $50.69 price target on shares of Enphase Energy in a research report on Tuesday, February 4th. Oppenheimer lifted their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Truist Financial reaffirmed a “hold” rating and issued a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Piper Sandler decreased their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Morgan Stanley cut their target price on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC grew its stake in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the period. Stone House Investment Management LLC bought a new position in Enphase Energy during the third quarter worth about $34,000. Quarry LP acquired a new position in shares of Enphase Energy during the 3rd quarter worth about $37,000. Venturi Wealth Management LLC increased its stake in shares of 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 acquiring an additional 509 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $47,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $60.83 on Wednesday. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 82.20 and a beta of 2.12. The business has a 50 day moving average price of $64.15 and a 200 day moving average price of $80.39. 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 twelve month low of $51.63 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Research analysts predict that Enphase Energy will post 2.08 earnings per share for the current year.

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.