Enphase Energy (NASDAQ:ENPH – Get Rating) is set to announce its earnings results after the market closes on Tuesday, February 7th. Analysts expect the company to announce earnings of $1.28 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.
Enphase Energy Price Performance
Shares of Enphase Energy stock opened at $212.22 on Tuesday. Enphase Energy has a twelve month low of $118.57 and a twelve month high of $339.92. The stock has a market capitalization of $28.84 billion, a P/E ratio of 102.03, a PEG ratio of 1.16 and a beta of 1.38. The company has a current ratio of 3.60, a quick ratio of 3.34 and a debt-to-equity ratio of 1.96. The business’s fifty day moving average price is $276.99 and its 200 day moving average price is $278.86.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on ENPH shares. Deutsche Bank Aktiengesellschaft reduced their target price on Enphase Energy from $330.00 to $285.00 and set a “buy” rating on the stock in a report on Tuesday, January 17th. OTR Global cut Enphase Energy to a “positive” rating in a research note on Tuesday, January 24th. Truist Financial boosted their price objective on Enphase Energy from $265.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, October 18th. Piper Sandler cut Enphase Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $350.00 to $255.00 in a research note on Tuesday, January 24th. Finally, The Goldman Sachs Group reduced their price objective on Enphase Energy from $379.00 to $327.00 in a research note on Monday. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.23.
Insider Transactions at Enphase Energy
In other news, CEO Badrinarayanan Kothandaraman sold 82,347 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $317.48, for a total transaction of $26,143,525.56. Following the completion of the transaction, the chief executive officer now directly owns 1,167,786 shares in the company, valued at $370,748,699.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Enphase Energy news, EVP David A. Ranhoff sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $303.43, for a total value of $2,275,725.00. Following the completion of the sale, the executive vice president now directly owns 85,402 shares in the company, valued at $25,913,528.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 82,347 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $317.48, for a total value of $26,143,525.56. Following the completion of the sale, the chief executive officer now owns 1,167,786 shares of the company’s stock, valued at $370,748,699.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,674 shares of company stock worth $56,558,342. Company insiders own 4.80% of the company’s stock.
Institutional Investors Weigh In On Enphase Energy
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Enphase Energy by 0.4% in the first quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock worth $2,820,957,000 after purchasing an additional 60,024 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Enphase Energy by 86.2% in the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock valued at $161,657,000 after buying an additional 370,992 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Enphase Energy by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 660,606 shares of the semiconductor company’s stock valued at $133,298,000 after buying an additional 9,245 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Enphase Energy by 35.3% in the first quarter. Goldman Sachs Group Inc. now owns 447,314 shares of the semiconductor company’s stock valued at $90,259,000 after buying an additional 116,629 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Enphase Energy by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after buying an additional 6,401 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.
About Enphase Energy
Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.