Glj Research Begins Coverage on Enphase Energy (NASDAQ:ENPH)

Glj Research started coverage on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Tuesday, Benzinga reports. The brokerage issued a sell rating and a $45.82 price target on the semiconductor company’s stock.

Several other research firms have also recently commented on ENPH. BMO Capital Markets reduced their price target on Enphase Energy from $118.00 to $113.00 and set a market perform rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada decreased their target price on shares of Enphase Energy from $140.00 to $130.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. Oppenheimer upped their price target on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. Guggenheim cut shares of Enphase Energy from a neutral rating to a sell rating and set a $92.00 price objective for the company. in a research note on Wednesday, April 24th. Finally, TD Cowen boosted their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $130.45.

Enphase Energy Stock Down 5.2 %

ENPH stock opened at $99.71 on Tuesday. The stock has a market capitalization of $13.57 billion, a PE ratio of 51.93, a price-to-earnings-growth ratio of 4.06 and a beta of 1.77. The company has a fifty day moving average of $117.05 and a 200-day moving average of $117.89. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. Enphase Energy has a one year low of $73.49 and a one year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). The firm had revenue of $263.34 million for the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. As a group, analysts expect that Enphase Energy will post 1.49 EPS for the current year.

Insider Buying and Selling

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction 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 completion of the transaction, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 349,526 shares of company stock worth $43,721,225. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC raised its holdings in shares of Enphase Energy by 11.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,713 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 486 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Enphase Energy during the third quarter valued at approximately $373,000. LPL Financial LLC grew its stake in Enphase Energy by 21.3% during the third quarter. LPL Financial LLC now owns 91,989 shares of the semiconductor company’s stock worth $11,052,000 after buying an additional 16,163 shares during the period. Stifel Financial Corp increased its position in shares of Enphase Energy by 14.2% in the third quarter. Stifel Financial Corp now owns 80,893 shares of the semiconductor company’s stock worth $9,719,000 after acquiring an additional 10,056 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Enphase Energy by 494.8% in the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the semiconductor company’s stock valued at $582,000 after acquiring an additional 4,033 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.