Enphase Energy (NASDAQ:ENPH – Free Report) had its price target cut by The Goldman Sachs Group from $55.00 to $47.00 in a research report released on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.
Other analysts have also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating on shares of Enphase Energy in a report on Tuesday, September 8th. Citigroup cut their price target on shares of Enphase Energy from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. TD Cowen reduced their price target on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada decreased their price objective on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $44.34.
View Our Latest Report on ENPH
Enphase Energy Trading Up 0.3%
Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. Enphase Energy’s revenue was down 19.6% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. On average, equities research analysts forecast that Enphase Energy will post 0.69 earnings per share for the current year.
Insider Activity
In related news, Director Richard Mora sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the sale, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. This trade represents a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.
Institutional Trading of Enphase Energy
Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Enphase Energy during the 4th quarter valued at approximately $118,190,000. Handelsbanken Fonder AB increased its stake in shares of Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after buying an additional 1,283,052 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Enphase Energy in the second quarter worth $43,921,000. Legal & General Group Plc acquired a new stake in Enphase Energy in the second quarter valued at $39,128,000. Finally, Encompass Capital Advisors LLC acquired a new stake in Enphase Energy in the first quarter valued at $27,234,000. Institutional investors and hedge funds own 72.12% of the company’s stock.
Key Enphase Energy News
Here are the key news stories impacting Enphase Energy this week:
- Positive Sentiment: The IQ Meter Collar is approved by utilities serving more than 38 million customers, including all three major investor-owned utilities in California and Sacramento Municipal Utility District. The device simplifies whole-home backup installations by reducing wiring, equipment, and installation time, potentially accelerating Enphase battery deployments. Enphase Energy Announces IQ Meter Collar Approval
- Positive Sentiment: Installer endorsements suggest the product could enable faster, cleaner installations and improve access to whole-home backup in markets such as California and Hawaii. Hawaiian Electric has approved pilot installations, with broader approval expected in coming months. IQ Meter Collar Utility Approvals
- Neutral Sentiment: Goldman Sachs lowered its Enphase price target to $47 from $55 but maintained a “buy” rating. The reduced target reflects more cautious expectations, while still implying substantial upside from the referenced share price. Enphase Price Target Lowered by Goldman Sachs
- Negative Sentiment: Investors continue to contend with weaker underlying financial trends: the latest reported quarterly revenue fell about 19.6% year over year, and earnings slightly missed consensus estimates. Recent institutional activity also showed more funds reducing positions than adding shares, which may limit the product announcement’s near-term impact.
About Enphase Energy
Enphase Energy, Inc (NASDAQ:ENPH) is a clean energy technology company that designs and manufactures systems for generating, storing and managing electricity. Its products are primarily used in residential and commercial solar installations.
The company is best known for its semiconductor-based solar microinverters, which convert the direct current produced by individual solar panels into alternating current for use in buildings or delivery to the electric grid. Enphase also offers home battery storage systems, electric vehicle chargers, energy management software and related monitoring services designed to help customers optimize solar production, energy consumption and backup power.
Founded in 2006, Enphase is headquartered in Fremont, California.
Read More
- Five stocks we like better than Enphase Energy
- Can Bloom Energy Pop the Top Off AI’s Massive Energy Bottleneck?
- Coach’s Momentum Powers Tapestry Despite the Stock’s Sharp Pullback
- AI Is Reshaping SaaS—These 2 Software ETFs Offer Different Ways to Play It
- Insiders Signal Deep Value In DICK’s Sporting Goods
Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.
