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

Enphase Energy (NASDAQ:ENPH) had its price target reduced by research analysts at Jefferies Financial Group from $54.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the semiconductor company’s stock. Jefferies Financial Group’s target price would suggest a potential downside of 29.62% from the company’s previous close.

ENPH has been the subject of a number of other reports. Guggenheim upgraded shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective for the company in a research note on Friday, January 31st. TD Cowen decreased their price objective on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $76.00 to $82.00 in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Craig Hallum lowered their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.79.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $62.52 on Thursday. The company has a market capitalization of $8.28 billion, a P/E ratio of 84.49 and a beta of 2.12. The business has a fifty day simple moving average of $62.23 and a two-hundred day simple moving average of $74.70. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy has a 1 year low of $51.63 and a 1 year high of $141.63.

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

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $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. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. MassMutual Private Wealth & Trust FSB boosted its holdings in Enphase Energy by 83.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 38,475 shares of the semiconductor company’s stock valued at $2,387,000 after acquiring an additional 17,516 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in Enphase Energy in the fourth quarter worth about $289,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Enphase Energy in the fourth quarter worth about $18,580,000. Fourth Dimension Wealth LLC bought a new stake in Enphase Energy during the 4th quarter valued at approximately $103,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $32,251,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.