Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $65.00 to $42.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor company's stock. Wells Fargo & Company's target price indicates a potential upside of 15.45% from the stock's previous close.
Several other equities research analysts also recently issued reports on ENPH. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective for the company. in a research report on Tuesday, May 13th. Piper Sandler lowered their target price on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. BNP Paribas downgraded Enphase Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, May 13th. BMO Capital Markets reissued an "underperform" rating and set a $39.00 target price (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Finally, Truist Financial reduced their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Twelve analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $65.44.
View Our Latest Stock Analysis on ENPH
Enphase Energy Price Performance
Shares of ENPH opened at $36.38 on Friday. The company's 50-day moving average is $45.44 and its 200-day moving average is $57.95. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. The firm has a market capitalization of $4.77 billion, a PE ratio of 33.69 and a beta of 1.69. Enphase Energy has a fifty-two week low of $33.01 and a fifty-two week high of $130.08.
Insider Buying and Selling
In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer now directly owns 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Enphase Energy
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after purchasing an additional 44,782 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after buying an additional 2,680,567 shares during the period. Invesco Ltd. raised its position in shares of Enphase Energy by 15.5% during the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company's stock worth $326,664,000 after acquiring an additional 706,656 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock worth $234,994,000 after acquiring an additional 47,593 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after acquiring an additional 484,497 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.
About Enphase Energy
(
Get Free Report)
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.
Further Reading
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