Susquehanna Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $59.00

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Susquehanna from $76.00 to $59.00 in a research report report published on Monday morning,Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Enphase Energy from $54.00 to $44.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on Enphase Energy from $77.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Citigroup lowered Enphase Energy from a “neutral” rating to a “negative” rating in a report on Wednesday, March 26th. Truist Financial reissued a “hold” rating and issued a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Finally, Glj Research reiterated a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. Four investment 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 presently has an average rating of “Hold” and a consensus price target of $87.56.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $51.75 on Monday. The business’s 50-day simple moving average is $59.74 and its 200-day simple moving average is $70.10. 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 $47.48 and a 52 week high of $141.63. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 69.93 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS 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, equities research analysts expect that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction 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 completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Enphase Energy by 47.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,556 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 3,089 shares during the period. Fifth Third Bancorp lifted its position in Enphase Energy by 42.4% during the 1st quarter. Fifth Third Bancorp now owns 3,688 shares of the semiconductor company’s stock worth $229,000 after buying an additional 1,098 shares in the last quarter. CX Institutional acquired a new position in shares of Enphase Energy during the 1st quarter worth about $29,000. Handelsbanken Fonder AB grew its holdings in shares of Enphase Energy by 181.9% in the 1st quarter. Handelsbanken Fonder AB now owns 747,224 shares of the semiconductor company’s stock valued at $46,365,000 after acquiring an additional 482,110 shares in the last quarter. Finally, Abacus FCF Advisors LLC increased its position in shares of Enphase Energy by 376.6% in the first quarter. Abacus FCF Advisors LLC now owns 73,171 shares of the semiconductor company’s stock valued at $4,540,000 after acquiring an additional 57,817 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

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.