Piper Sandler Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective dropped by investment analysts at Piper Sandler from $65.00 to $47.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price objective would suggest a potential downside of 9.18% from the stock’s current price.

A number of other brokerages have also recently weighed in on ENPH. Craig Hallum dropped their price objective on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group lowered their price objective on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group reduced their target price on shares of Enphase Energy from $54.00 to $44.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. BMO Capital Markets cut their price objective on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Finally, TD Cowen lowered their target price on Enphase Energy from $94.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $86.12.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $51.75 on Thursday. The company has a market capitalization of $6.86 billion, a P/E ratio of 69.93 and a beta of 1.94. 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’s fifty day moving average is $59.74 and its two-hundred day moving average is $70.10.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 expect that Enphase Energy will post 2.08 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Enphase Energy

Large investors have recently modified their holdings of the business. Baillie Gifford & Co. increased its position in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Invesco Ltd. raised its stake in Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after purchasing an additional 1,378,978 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after purchasing an additional 678,163 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Enphase Energy during the fourth quarter worth about $46,339,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.