Enphase Energy, Inc. (NASDAQ:ENPH) continues to draw mixed reviews from analysts, with an average rating of “Hold” from a cohort of thirty-three evaluators. The analysis reveals a divide in perspectives; eleven analysts classify the stock as a sell, ten maintain a hold recommendation, and twelve promote it as a buy. The consensus 12-month price target sits at approximately $68.87.
Recent reports from various analysts have prompted adjustments to their price targets for Enphase. For instance, Glj Research has lowered their target from $50.69 to $31.11, reflecting a bearish outlook, while BNP Paribas Exane downgraded the stock to an “underperform” rating with a $40 target. Conversely, Canaccord Genuity Group affirmed a “buy” rating albeit with a revised target of $58. Barclays also shifted their outlook from “overweight” to “underweight,” citing a price target drop from $51 to $40.
On the insider trading front, CFO Mandy Yang sold 1,319 shares at an average price of $63.32, reducing her position by 1.65%. Meanwhile, CEO Badrinarayanan Kothandaraman increased his holdings by acquiring 4,000 shares at $46.35 each, indicating confidence in the firm’s prospects.
Institutional interest in Enphase remains significant, with numerous hedge funds increasing their stakes. Notable changes include CX Institutional and First Horizon Advisors both taking new positions and increasing their holdings, respectively, amidst a backdrop where institutional investors hold 72.12% of the company’s stock.
As of Monday’s trading, shares of Enphase Energy dipped by $1.75 to $47.29, with trading volume surpassing 5 million. Over the past year, the stock has experienced a wide range, from a low of $43.09 to a high of $141.63, highlighting the stock’s volatility.
Enphase specializes in energy solutions for the solar photovoltaic sector, offering innovative semiconductor-based microinverters among other technologies aimed at maximizing energy efficiency.
The current challenges in Enphase’s stock ratings and price targets may reflect broader market trends affecting renewable energy companies, but the confidence shown by company executives and institutional investors suggests underlying potential for recovery and growth in this sector.