Enphase Energy (NASDAQ:ENPH) Rating Lowered to Neutral at Citigroup

Enphase Energy (NASDAQ:ENPH) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat reports. They presently have a $121.00 target price on the semiconductor company’s stock, down from their prior target price of $126.00. Citigroup’s target price would suggest a potential upside of 7.78% from the company’s previous close.

Several other brokerages also recently issued reports on ENPH. Truist Financial upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada began coverage on shares of Enphase Energy in a research report on Wednesday, February 14th. They set an “outperform” rating and a $140.00 price objective on the stock. Wells Fargo & Company upgraded shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $98.00 to $141.00 in a research report on Monday, January 8th. Barclays increased their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Finally, KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $151.03.

Enphase Energy Price Performance

Shares of ENPH opened at $112.27 on Friday. The stock has a market cap of $15.24 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.34 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $231.42. The firm’s 50-day simple moving average is $118.57 and its two-hundred day simple moving average is $112.46.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Analysts anticipate that Enphase Energy will post 2.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 24,285 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in ENPH. Resurgent Financial Advisors LLC purchased a new position in shares of Enphase Energy in the fourth quarter valued at approximately $29,000. KB Financial Partners LLC purchased a new position in shares of Enphase Energy in the first quarter valued at approximately $28,000. Coppell Advisory Solutions Corp. purchased a new position in Enphase Energy in the fourth quarter worth approximately $42,000. First Capital Advisors Group LLC. purchased a new position in Enphase Energy in the second quarter worth approximately $28,000. Finally, VisionPoint Advisory Group LLC purchased a new position in Enphase Energy in the second quarter worth approximately $33,000. 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.