Enphase Energy, Inc. (NASDAQ:ENPH) Receives $68.87 Average PT from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has been given an average rating of “Hold” by the thirty-three brokerages that are currently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $68.87.

Several brokerages have recently weighed in on ENPH. Canaccord Genuity Group cut their target price on Enphase Energy from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. DZ Bank lowered Enphase Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 23rd. Citigroup reaffirmed a “sell” rating and set a $47.00 price target on shares of Enphase Energy in a research report on Thursday, April 17th. Glj Research cut their price target on Enphase Energy from $50.69 to $31.11 and set a “sell” rating on the stock in a research report on Friday, April 25th. Finally, Craig Hallum cut their price target on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th.

Insiders Place Their Bets

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This represents a 0.25% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by company insiders.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. CX Institutional purchased a new stake in shares of Enphase Energy in the first quarter valued at $29,000. First Horizon Advisors Inc. lifted its position in shares of Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 258 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Enphase Energy in the first quarter valued at $38,000. Brooklyn Investment Group lifted its position in shares of Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 368 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Enphase Energy by 318.1% in the fourth 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 in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $39.64 on Monday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy has a fifty-two week low of $37.59 and a fifty-two week high of $141.63. The firm has a market capitalization of $5.20 billion, a PE ratio of 53.57 and a beta of 1.80. The stock’s 50-day simple moving average is $51.86 and its 200-day simple moving average is $61.12.

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.