B. Riley Weighs in on Enphase Energy, Inc.’s Q3 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Investment analysts at B. Riley dropped their Q3 2024 earnings estimates for shares of Enphase Energy in a report released on Wednesday, April 24th. B. Riley analyst C. Souther now anticipates that the semiconductor company will earn $0.63 per share for the quarter, down from their prior forecast of $0.77. B. Riley has a “Buy” rating and a $149.00 price target on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.95 per share.

Other equities analysts have also recently issued research reports about the stock. Mizuho dropped their price target on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. DZ Bank started coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price target on the stock. Guggenheim cut shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a research note on Wednesday. Canaccord Genuity Group dropped their price target on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $141.58.

Enphase Energy Stock Up 0.6 %

NASDAQ:ENPH opened at $107.83 on Friday. The firm’s 50-day moving average price is $118.79 and its 200-day moving average price is $111.93. The company has a market capitalization of $14.67 billion, a PE ratio of 56.16, a P/E/G ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Norges Bank purchased a new position in Enphase Energy in the fourth quarter valued at about $149,425,000. Nordea Investment Management AB grew its stake in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after purchasing an additional 501,385 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Enphase Energy in the fourth quarter valued at about $41,068,000. Finally, Panagora Asset Management Inc. grew its stake in Enphase Energy by 3,396.9% in the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after purchasing an additional 255,175 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is owned by corporate insiders.

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.