Enphase Energy (NASDAQ:ENPH – Get Free Report) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report released on Tuesday, Briefing.com reports. The brokerage presently has a $145.00 price objective on the semiconductor company’s stock, up from their prior price objective of $85.00. Truist Financial’s target price suggests a potential upside of 35.32% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut their price objective on shares of Enphase Energy from $180.00 to $158.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. Piper Sandler lowered their price target on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research note on Friday, January 12th. Jefferies Financial Group started coverage on shares of Enphase Energy in a research note on Friday, December 15th. They issued a “buy” rating and a $121.00 price target on the stock. Barclays lowered their price target on shares of Enphase Energy from $155.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Monday, October 2nd. Finally, Canaccord Genuity Group started coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.66.
Get Our Latest Report on Enphase Energy
Enphase Energy Trading Up 3.4 %
ENPH opened at $107.15 on Tuesday. The stock has a market capitalization of $14.63 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.12 and a beta of 1.62. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $247.00. The firm’s fifty day simple moving average is $112.54 and its 200 day simple moving average is $122.25. The company has a current ratio of 3.36, a quick ratio of 3.13 and a debt-to-equity ratio of 1.18.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.71 by $0.13. The business had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $562.27 million. Enphase Energy had a net margin of 21.08% and a return on equity of 63.06%. As a group, research analysts anticipate that Enphase Energy will post 3.24 EPS for the current fiscal year.
Insider Activity at Enphase Energy
In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 1,118 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of $90.23 per share, with a total value of $100,877.14. Following the acquisition, the chief executive officer now directly owns 1,272,015 shares of the company’s stock, valued at approximately $114,773,913.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.
Institutional Trading of Enphase Energy
Institutional investors and hedge funds have recently made changes to their positions in the company. TriaGen Wealth Management LLC increased its position in Enphase Energy by 26.4% during the 4th quarter. TriaGen Wealth Management LLC now owns 6,052 shares of the semiconductor company’s stock worth $800,000 after purchasing an additional 1,264 shares in the last quarter. BlueDrive Global Investors LLP acquired a new position in Enphase Energy in the 4th quarter valued at approximately $2,966,000. Caprock Group LLC acquired a new stake in shares of Enphase Energy during the fourth quarter worth $216,000. Blue Trust Inc. increased its position in shares of Enphase Energy by 194.6% during the fourth quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after buying an additional 218 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Enphase Energy during the fourth quarter worth $119,000. Institutional investors own 71.05% 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 services.
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