Enphase Energy (NASDAQ:ENPH) Price Target Cut to $43.00 by Analysts at Citigroup

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price lowered by research analysts at Citigroup from $47.00 to $43.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "sell" rating on the semiconductor company's stock. Citigroup's price objective would indicate a potential upside of 4.12% from the stock's current price.

A number of other equities analysts also recently weighed in on ENPH. Barclays downgraded shares of Enphase Energy from an "overweight" rating to an "underweight" rating and lowered their target price for the stock from $51.00 to $40.00 in a report on Tuesday, May 13th. BNP Paribas downgraded shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, May 13th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $54.00 price objective (down from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Oppenheimer set a $84.00 price objective on shares of Enphase Energy and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Finally, Guggenheim reiterated a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $68.31.

Enphase Energy Stock Down 4.3%

Shares of NASDAQ ENPH traded down $1.86 during midday trading on Thursday, reaching $41.30. The company's stock had a trading volume of 7,284,777 shares, compared to its average volume of 4,468,515. 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 fifty-two week low of $37.59 and a fifty-two week high of $141.63. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 55.81 and a beta of 1.80. The stock has a 50 day simple moving average of $48.14 and a 200-day simple moving average of $59.81.

Insider Transactions at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company's stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CX Institutional acquired a new position in shares of Enphase Energy in the first quarter valued at approximately $29,000. First Horizon Advisors Inc. increased its stake in shares of Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after buying an additional 258 shares during the period. SVB Wealth LLC acquired a new position in shares of Enphase Energy in the first quarter valued at approximately $38,000. Brooklyn Investment Group increased its stake in shares of Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock valued at $41,000 after buying an additional 368 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after buying an additional 509 shares during the period. Institutional investors and hedge funds 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.