Enphase Energy (NASDAQ:ENPH) Stock Rating Lowered by DZ Bank

DZ Bank cut shares of Enphase Energy (NASDAQ:ENPH - Free Report) from a hold rating to a strong sell rating in a research report released on Wednesday, April 23rd,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. TD Cowen reduced their price target on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Citigroup reissued a "sell" rating and issued a $47.00 price target on shares of Enphase Energy in a research note on Thursday, April 17th. Jefferies Financial Group reduced their price objective on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on Enphase Energy in a report on Monday, March 3rd. They set a "neutral" rating for the company. Finally, Canaccord Genuity Group cut their target price 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. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $70.54.

Enphase Energy Trading Down 6.4 %

ENPH traded down $3.06 during mid-day trading on Wednesday, hitting $44.65. The stock had a trading volume of 2,390,428 shares, compared to its average volume of 4,029,366. The stock's fifty day simple moving average is $57.07 and its 200-day simple moving average is $66.29. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 60.34 and a beta of 1.94. Enphase Energy has a 1-year low of $44.24 and a 1-year high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, research analysts forecast that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was acquired 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 now owns 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents 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.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently bought and sold shares of ENPH. CX Institutional purchased a new stake in shares of Enphase Energy during the 1st quarter valued at $29,000. First Horizon Advisors Inc. lifted its stake in Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 258 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy during the 4th quarter valued at about $47,000. Finally, GeoWealth Management LLC raised its holdings in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after buying an additional 321 shares in the last quarter. Hedge funds and other 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.