Enphase Energy (NASDAQ:ENPH) Given “Sell” Rating at Glj Research

Enphase Energy (NASDAQ:ENPH)‘s stock had its “sell” rating reaffirmed by equities researchers at Glj Research in a research note issued on Thursday,Benzinga reports. They currently have a $21.70 target price on the semiconductor company’s stock. Glj Research’s price target suggests a potential downside of 57.09% from the company’s previous close.

A number of other brokerages have also recently weighed in on ENPH. Deutsche Bank Aktiengesellschaft raised their target price on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. UBS Group set a $85.00 target price on shares of Enphase Energy in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Jefferies Financial Group reduced their target price on shares of Enphase Energy from $57.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, Weiss Ratings lowered shares of Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.24.

Enphase Energy Trading Down 5.5%

Shares of NASDAQ:ENPH opened at $50.57 on Thursday. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 50.07 and a beta of 1.60. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The company has a 50 day moving average price of $44.85 and a 200 day moving average price of $40.47.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. On average, research analysts anticipate that Enphase Energy will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 137,250 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $43.61, for a total value of $5,985,472.50. Following the completion of the sale, the director owned 1,597,641 shares in the company, valued at $69,673,124.01. This represents a 7.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Mora sold 700 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00. Following the completion of the sale, the director owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 138,650 shares of company stock valued at $6,062,886. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC lifted its position in Enphase Energy by 2.2% in the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock worth $391,000 after buying an additional 260 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in Enphase Energy by 5.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after buying an additional 319 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its position in Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after buying an additional 350 shares in the last quarter. GAMMA Investing LLC lifted its position in Enphase Energy by 19.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after buying an additional 392 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in Enphase Energy by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock worth $845,000 after buying an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.