Enphase Energy (NASDAQ:ENPH) Receives New Coverage from Analysts at Glj Research

Glj Research began coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm issued a sell rating and a $45.82 target price on the semiconductor company’s stock.

ENPH has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on Enphase Energy from $141.00 to $130.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Craig Hallum reduced their price target on Enphase Energy from $159.00 to $147.00 and set a buy rating for the company in a report on Wednesday, April 24th. Piper Sandler reiterated a neutral rating and set a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a report on Wednesday, April 24th. Roth Mkm reiterated a buy rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday, April 24th. Finally, Citigroup cut Enphase Energy from a buy rating to a neutral rating and reduced their price objective for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $133.71.

Enphase Energy Stock Performance

ENPH stock opened at $102.95 on Tuesday. The business’s 50-day moving average price is $117.26 and its two-hundred day moving average price is $118.00. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The firm has a market cap of $14.01 billion, a PE ratio of 53.62, a P/E/G ratio of 4.02 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30.

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

Insider Buying and Selling at Enphase Energy

In related news, CFO Mandy Yang purchased 4,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the acquisition, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $104.24 per share, with a total value of $416,960.00. Following the completion of the acquisition, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The disclosure for this purchase can be found here. Insiders sold a total of 349,526 shares of company stock worth $43,721,225 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Donoghue Forlines LLC increased its holdings in Enphase Energy by 4.8% in the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after purchasing an additional 90 shares during the period. Fermata Advisors LLC boosted its position in Enphase Energy by 1.4% during the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after acquiring an additional 100 shares during the last quarter. Hollencrest Capital Management boosted its position in Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its position in Enphase Energy by 0.9% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after acquiring an additional 107 shares during the last quarter. Finally, VitalStone Financial LLC boosted its position in Enphase Energy by 14.3% during the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 111 shares during the last quarter. 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.