Enphase Energy (NASDAQ:ENPH) Stock Rating Lowered by DZ Bank

DZ Bank downgraded shares of Enphase Energy (NASDAQ:ENPH - Free Report) from a hold rating to a strong sell rating in a research note released on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Oppenheimer set a $84.00 price objective on shares of Enphase Energy and gave the stock an "outperform" rating in a research report on Wednesday. Susquehanna lowered their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday. Truist Financial cut their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday. BMO Capital Markets lowered their price target on Enphase Energy from $59.00 to $46.00 and set a "market perform" rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company cut their price objective on Enphase Energy from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of "Hold" and an average target price of $70.54.

Enphase Energy Price Performance

NASDAQ ENPH traded up $1.08 on Wednesday, hitting $46.83. The stock had a trading volume of 4,625,125 shares, compared to its average volume of 4,030,883. The firm has a 50-day moving average of $57.84 and a 200-day moving average of $66.80. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 63.28 and a beta of 1.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy has a 52-week low of $44.83 and a 52-week high of $141.63.

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

Insider Activity

In related news, CFO Mandy Yang sold 1,319 shares of the business'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 sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Enphase Energy in the 3rd quarter worth about $239,000. Tidal Investments LLC raised its holdings in Enphase Energy by 121.4% in the third quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company's stock worth $13,893,000 after buying an additional 67,411 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of Enphase Energy in the third quarter worth approximately $292,000. GAMMA Investing LLC grew its holdings in shares of Enphase Energy by 131.9% during the fourth quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company's stock valued at $339,000 after buying an additional 2,810 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $470,000. 72.12% of the stock is owned by institutional investors.

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.