Glj Research Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target reduced by equities research analysts at Glj Research from $24.47 to $21.49 in a report issued on Monday, Benzinga reports. The firm currently has a “sell” rating on the semiconductor company’s stock. Glj Research‘s target price indicates a potential downside of 29.22% from the stock’s previous close.

Several other analysts have also issued reports on ENPH. Susquehanna dropped their price target on shares of Enphase Energy from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 21st. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $37.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 21st. Barclays dropped their target price on shares of Enphase Energy from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $55.00 target price on shares of Enphase Energy in a research note on Monday, October 5th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $42.98.

Enphase Energy Stock Down 3.9%

NASDAQ:ENPH opened at $30.36 on Monday. Enphase Energy has a twelve month low of $25.77 and a twelve month high of $73.74. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 30.36 and a beta of 1.64. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $34.58 and its two-hundred day moving average price is $41.14.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. Equities research analysts expect that Enphase Energy will post 0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director directly owned 10,422 shares in the company, valued at $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its position in Enphase Energy by 12.0% in the third quarter. Oppenheimer & Co. Inc. now owns 30,199 shares of the semiconductor company’s stock valued at $996,000 after acquiring an additional 3,235 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Enphase Energy in the 3rd quarter worth about $964,000. Inspire Investing LLC acquired a new position in Enphase Energy during the 3rd quarter worth approximately $633,000. Annex Advisory Services LLC bought a new stake in Enphase Energy during the 3rd quarter valued at $495,000. Finally, NFSG Corp acquired a new stake in shares of Enphase Energy in the 3rd quarter worth about $66,000. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.