Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $28.00 at Barclays

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price cut by equities researchers at Barclays from $40.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the semiconductor company's stock. Barclays's price objective would indicate a potential downside of 27.72% from the company's previous close.

ENPH has been the topic of several other research reports. Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. BNP Paribas lowered shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, May 13th. Piper Sandler dropped their price target on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. TD Cowen reiterated a "hold" rating and issued a $45.00 price target (down from $58.00) on shares of Enphase Energy in a research note on Tuesday, July 8th. Finally, BNP Paribas Exane lowered shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target on the stock. in a research note on Tuesday, May 13th. Thirteen analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Enphase Energy has an average rating of "Hold" and an average target price of $61.20.

Enphase Energy Stock Down 0.7%

Shares of NASDAQ ENPH traded down $0.29 during midday trading on Monday, hitting $38.74. The company's stock had a trading volume of 6,663,437 shares, compared to its average volume of 5,049,213. The business's fifty day simple moving average is $42.43 and its two-hundred day simple moving average is $53.77. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. Enphase Energy has a 1 year low of $33.01 and a 1 year high of $130.08. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 35.87 and a beta of 1.67.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer owned 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CX Institutional bought a new stake in Enphase Energy during the first quarter worth $29,000. First Horizon Advisors Inc. increased its holdings in shares of Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after buying an additional 258 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Enphase Energy during the first quarter worth $38,000. Brooklyn Investment Group increased its holdings in shares of Enphase Energy by 124.7% during the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock worth $41,000 after buying an additional 368 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Enphase Energy during the fourth quarter worth $47,000. 72.12% of the stock is currently owned by institutional investors.

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.