Enphase Energy (NASDAQ:ENPH) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Enphase Energy (NASDAQ:ENPH) had its price objective increased by Jefferies Financial Group from $41.00 to $64.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 17.24% from the stock’s current price.

ENPH has been the topic of several other reports. TD Cowen increased their target price on shares of Enphase Energy from $35.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, May 29th. Susquehanna cut their price target on Enphase Energy from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. The Goldman Sachs Group upped their price target on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Oppenheimer lowered their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, Citigroup dropped their price objective on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.65.

Enphase Energy Stock Performance

Shares of ENPH traded down $0.34 during trading hours on Friday, hitting $54.59. The stock had a trading volume of 5,042,504 shares, compared to its average volume of 9,313,402. The firm has a 50-day moving average price of $45.52 and a 200 day moving average price of $40.76. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 54.05 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same quarter last year, the business earned $0.68 earnings per share. The firm’s revenue was down 20.6% on a year-over-year basis. As a group, research analysts anticipate that Enphase Energy will post 0.84 EPS for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total transaction of $44,940.00. Following the sale, the director owned 13,922 shares of the company’s stock, valued at $893,792.40. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $67.50 per share, with a total value of $337,500.00. Following the acquisition, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at approximately $111,080,160. This represents a 0.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares in the last quarter. Stance Capital LLC purchased a new position in Enphase Energy in the 3rd quarter worth approximately $32,000. Activest Wealth Management boosted its holdings in shares of Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Enphase Energy during the 1st 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 is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.