Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Recommendation of "Reduce" from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have been assigned an average rating of "Reduce" from the thirty-four brokerages that are covering the company, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $63.50.

Several brokerages have issued reports on ENPH. KeyCorp restated an "underweight" rating and set a $31.00 price objective on shares of Enphase Energy in a research note on Tuesday, June 17th. Jefferies Financial Group cut their price objective on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group cut their price objective on Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the company a "sector perform" rating in a research note on Wednesday, June 18th. Finally, Glj Research cut their price objective on Enphase Energy from $50.69 to $31.11 and set a "sell" rating on the stock in a research note on Friday, April 25th.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer owned 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Woodline Partners LP acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $557,000. QRG Capital Management Inc. acquired a new stake in shares of Enphase Energy during the 1st quarter valued at $512,000. Norges Bank acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $46,339,000. Bouvel Investment Partners LLC acquired a new stake in shares of Enphase Energy during the 1st quarter valued at $847,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $18,580,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Stock Up 4.7%

Shares of NASDAQ:ENPH traded up $1.91 during trading on Tuesday, hitting $42.85. The company's stock had a trading volume of 10,305,286 shares, compared to its average volume of 5,012,199. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.77 and a current ratio of 1.90. Enphase Energy has a fifty-two week low of $33.01 and a fifty-two week high of $130.08. The stock's 50-day moving average price is $42.79 and its two-hundred day moving average price is $54.95. The company has a market capitalization of $5.62 billion, a PE ratio of 39.68 and a beta of 1.67.

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.