Jefferies Financial Group Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $44.00

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Jefferies Financial Group from $54.00 to $44.00 in a research report released on Thursday,Benzinga reports. The firm currently has an underperform rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the stock. Truist Financial reiterated a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. BMO Capital Markets cut their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. The Goldman Sachs Group lowered their price objective on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Morgan Stanley cut their target price on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $89.79.

Enphase Energy Stock Down 2.6 %

Shares of Enphase Energy stock opened at $57.27 on Thursday. Enphase Energy has a 12-month low of $51.63 and a 12-month high of $141.63. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock has a 50 day moving average price of $62.00 and a two-hundred day moving average price of $73.90. The stock has a market capitalization of $7.59 billion, a P/E ratio of 77.39 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities analysts expect that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’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 $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of the business. Gould Capital LLC increased its holdings in shares of Enphase Energy by 2.1% in the third quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock valued at $1,153,000 after purchasing an additional 212 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of Enphase Energy by 6.8% during the 3rd quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock worth $513,000 after buying an additional 290 shares during the period. Inspire Investing LLC grew its stake in Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after buying an additional 318 shares during the last quarter. McGowan Group Asset Management Inc. raised its holdings in Enphase Energy by 2.0% in the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company’s stock valued at $1,145,000 after acquiring an additional 319 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.