Wells Fargo & Company Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target cut by Wells Fargo & Company from $77.00 to $75.00 in a research report issued on Thursday, March 27th,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor company's stock. Wells Fargo & Company's price target would indicate a potential upside of 29.89% from the company's previous close.

A number of other analysts have also recently commented on ENPH. Barclays cut their price target on shares of Enphase Energy from $91.00 to $86.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group reduced their price target on Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Susquehanna cut their price objective on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Oppenheimer increased their price target on Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley dropped their price target on Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and a consensus price target of $89.79.

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Enphase Energy Trading Down 7.6 %

ENPH traded down $4.78 during mid-day trading on Thursday, hitting $57.74. The stock had a trading volume of 2,124,614 shares, compared to its average volume of 3,950,513. Enphase Energy has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 78.03 and a beta of 2.12. The stock's fifty day simple moving average is $62.23 and its 200-day simple moving average is $74.70.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the business'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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the business's 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 transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENPH. Pathstone Holdings LLC raised its position in shares of Enphase Energy by 10.3% during the third quarter. Pathstone Holdings LLC now owns 12,405 shares of the semiconductor company's stock worth $1,402,000 after purchasing an additional 1,162 shares during the period. Cerity Partners LLC increased its stake in Enphase Energy by 102.6% during the 3rd quarter. Cerity Partners LLC now owns 10,988 shares of the semiconductor company's stock valued at $1,242,000 after purchasing an additional 5,565 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Enphase Energy by 20.1% during the third quarter. Daiwa Securities Group Inc. now owns 30,002 shares of the semiconductor company's stock worth $3,390,000 after buying an additional 5,029 shares during the last quarter. FMR LLC lifted its stake in shares of Enphase Energy by 5.7% in the third quarter. FMR LLC now owns 1,036,699 shares of the semiconductor company's stock valued at $117,168,000 after buying an additional 56,136 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Enphase Energy during the third quarter valued at about $55,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.