Enphase Energy (NASDAQ:ENPH) Lowered to Underperform Rating by BNP Paribas Exane

BNP Paribas Exane downgraded shares of Enphase Energy (NASDAQ:ENPH - Free Report) from a neutral rating to an underperform rating in a research report released on Tuesday, Marketbeat reports. BNP Paribas Exane currently has $40.00 price target on the semiconductor company's stock.

A number of other brokerages also recently weighed in on ENPH. Guggenheim reaffirmed a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a research note on Wednesday, April 23rd. Craig Hallum lowered their target price on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Redburn Atlantic initiated coverage on shares of Enphase Energy in a research note on Monday, March 3rd. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group lowered their target price on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $68.87.

Enphase Energy Price Performance

Shares of ENPH stock traded up $0.68 during trading hours on Tuesday, reaching $50.40. The stock had a trading volume of 5,815,589 shares, compared to its average volume of 4,254,742. The stock's fifty day simple moving average is $53.41 and its 200 day simple moving average is $62.69. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy has a 12 month low of $43.09 and a 12 month high of $141.63. The firm has a market capitalization of $6.61 billion, a PE ratio of 68.11 and a beta of 1.80.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the business'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 transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company's stock.

Institutional Trading of Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 32.0% during the 1st quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after buying an additional 2,680,567 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after buying an additional 1,378,978 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Enphase Energy by 9,236.6% during the 1st quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company's stock valued at $41,483,000 after buying an additional 684,157 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock valued at $55,342,000 after buying an additional 678,163 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Enphase Energy during the 4th quarter valued at $46,339,000. Institutional investors 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.