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

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the thirty-four research firms that are presently covering the company, Marketbeat reports. Twelve analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $65.00.

Several brokerages have recently weighed in on ENPH. DZ Bank lowered shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada set a $28.00 target price on shares of Enphase Energy and gave the stock a "sector perform" rating in a report on Wednesday, June 18th. Piper Sandler lowered their target price on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Guggenheim restated a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a report on Wednesday, April 23rd. Finally, Susquehanna lowered their target price on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction that occurred on 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 owned 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ENPH. Inspire Investing LLC lifted its stake in Enphase Energy by 9.1% in the 1st quarter. Inspire Investing LLC now owns 17,439 shares of the semiconductor company's stock worth $1,082,000 after purchasing an additional 1,451 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Enphase Energy in the 1st quarter worth approximately $121,000. IFM Investors Pty Ltd lifted its stake in Enphase Energy by 5.4% in the 1st quarter. IFM Investors Pty Ltd now owns 29,021 shares of the semiconductor company's stock worth $1,801,000 after purchasing an additional 1,486 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Enphase Energy by 139.8% in the 1st quarter. Bayforest Capital Ltd now owns 12,985 shares of the semiconductor company's stock worth $806,000 after purchasing an additional 7,569 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Enphase Energy by 37.9% in the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company's stock worth $694,000 after purchasing an additional 3,077 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Down 3.6%

Shares of NASDAQ ENPH traded down $1.52 during trading on Tuesday, hitting $40.94. 9,625,091 shares of the company traded hands, compared to its average volume of 4,985,126. The business's fifty day moving average is $42.92 and its 200 day moving average is $55.04. Enphase Energy has a fifty-two week low of $33.01 and a fifty-two week high of $130.08. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 37.91 and a beta of 1.67. 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 Company Profile

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.