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

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by analysts at Wells Fargo & Company from $77.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 21.65% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target for the company in a report on Friday, January 31st. Citigroup downgraded Enphase Energy from a “neutral” rating to a “negative” rating in a report on Wednesday. Craig Hallum lowered their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group cut their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.36.

Enphase Energy Price Performance

Shares of ENPH stock opened at $61.65 on Thursday. The stock has a 50 day moving average price of $62.24 and a 200 day moving average price of $75.88. Enphase Energy has a 52-week low of $51.63 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market capitalization of $8.17 billion, a P/E ratio of 83.31 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share 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%. As a group, sell-side analysts predict that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the firm’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 of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $6,126,000.00. Following the completion of the sale, 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. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Enphase Energy during the third quarter valued at approximately $37,000. Brooklyn Investment Group acquired a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $55,000. Venturi Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Enphase Energy in the 4th quarter valued at $47,000. Finally, GeoWealth Management LLC boosted its holdings in Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.