Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) Target Price at $65.44

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) has been assigned an average rating of "Reduce" from the thirty-four brokerages that are presently covering the company, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $63.50.

ENPH has been the topic of a number of research reports. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target on the stock. in a research note on Wednesday, April 23rd. Glj Research lowered their target price on Enphase Energy from $50.69 to $31.11 and set a "sell" rating on the stock in a research report on Friday, April 25th. Barclays downgraded Enphase Energy from an "overweight" rating to an "underweight" rating and lowered their target price for the company from $51.00 to $40.00 in a research report on Tuesday, May 13th. Susquehanna decreased their price target on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group decreased their price target on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a report on Wednesday, April 23rd.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer owned 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the business. CX Institutional purchased a new stake in Enphase Energy in the first quarter valued at $29,000. First Horizon Advisors Inc. boosted its holdings in 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 purchasing an additional 258 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Enphase Energy during the 1st quarter worth about $38,000. Brooklyn Investment Group boosted its stake in shares of Enphase Energy by 124.7% during the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 368 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy during the 4th quarter worth about $47,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Shares of ENPH stock traded up $0.18 on Tuesday, reaching $43.03. The stock had a trading volume of 2,627,764 shares, compared to its average volume of 5,009,933. The stock has a market cap of $5.65 billion, a P/E ratio of 39.88 and a beta of 1.67. Enphase Energy has a 1 year low of $33.01 and a 1 year high of $130.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.77 and a current ratio of 1.90. The company has a 50 day simple moving average of $42.75 and a 200 day simple moving average of $54.86.

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.