Jefferies Financial Group Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price decreased by Jefferies Financial Group from $54.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "underperform" rating on the semiconductor company's stock. Jefferies Financial Group's price target points to a potential downside of 23.17% from the company's previous close.

Several other research analysts have also commented on ENPH. Redburn Atlantic started coverage on shares of Enphase Energy in a research note on Monday, March 3rd. They set a "neutral" rating for the company. BMO Capital Markets dropped their price target on shares of Enphase Energy from $69.00 to $66.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group reduced their price objective on shares of Enphase Energy from $121.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Truist Financial restated a "hold" rating and set a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Finally, Piper Sandler reduced their price target on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $89.79.

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Enphase Energy Price Performance

Shares of NASDAQ ENPH traded down $1.50 during mid-day trading on Thursday, hitting $57.27. 4,406,610 shares of the company's stock traded hands, compared to its average volume of 3,950,803. 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. The company's 50-day moving average is $62.00 and its two-hundred day moving average is $73.90. The company has a market capitalization of $7.59 billion, a P/E ratio of 77.39 and a beta of 2.12.

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, beating 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%. On average, equities analysts anticipate that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction on 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Quarry LP purchased a new stake in Enphase Energy in the third quarter valued at approximately $37,000. Venturi Wealth Management LLC lifted its stake in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy in the 4th quarter valued at $47,000. GeoWealth Management LLC increased its stake in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares during the period. Finally, Sava Infond d.o.o. purchased a new position in shares of Enphase Energy during the fourth quarter worth $69,000. Institutional investors and hedge funds own 72.12% of the company's stock.

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.