Enphase Energy (NASDAQ:ENPH) Downgraded by Guggenheim

Enphase Energy (NASDAQ:ENPH) was downgraded by stock analysts at Guggenheim from a “neutral” rating to a “sell” rating in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $92.00 price objective on the semiconductor company’s stock. Guggenheim’s target price suggests a potential downside of 14.68% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Truist Financial cut their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Canaccord Genuity Group started coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target for the company. Canaccord Genuity Group started coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target for the company. Oppenheimer raised shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price target for the company in a report on Wednesday, February 7th. Finally, StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Price Performance

Shares of ENPH opened at $107.83 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The company has a market capitalization of $14.66 billion, a price-to-earnings ratio of 56.16, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The firm has a 50-day simple moving average of $118.79 and a 200-day simple moving average of $111.93. 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 (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. On average, equities research analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the sale, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on 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 transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at $26,000. CVA Family Office LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at $31,000. Parkside Financial Bank & Trust boosted its holdings in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Enphase Energy by 194.6% in the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.