The Goldman Sachs Group Reiterates "Sell" Rating for Enphase Energy (NASDAQ:ENPH)

The Goldman Sachs Group reaffirmed their sell rating on shares of Enphase Energy (NASDAQ:ENPH - Free Report) in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have a $32.00 target price on the semiconductor company's stock, down from their previous target price of $77.00.

A number of other analysts have also recently weighed in on ENPH. BNP Paribas Exane cut shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price on the stock. in a research note on Tuesday, May 13th. Morgan Stanley lowered shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 target price on the stock. in a research report on Wednesday, April 23rd. Piper Sandler reduced their target price on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. KeyCorp reiterated an "underweight" rating and set a $31.00 target price on shares of Enphase Energy in a research report on Tuesday, June 17th. Finally, Citigroup cut their price objective on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, June 5th. Thirteen analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy has an average rating of "Hold" and a consensus price target of $63.50.

Enphase Energy Stock Performance

Shares of ENPH traded up $0.00 during trading hours on Wednesday, reaching $42.85. 2,390,937 shares of the company traded hands, compared to its average volume of 6,078,997. The stock's fifty day moving average is $42.75 and its 200 day moving average is $54.86. The stock has a market cap of $5.62 billion, a P/E ratio of 39.65 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 has a 1-year low of $33.01 and a 1-year high of $130.08.

Insiders Place Their Bets

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company's stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Enphase Energy by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock valued at $64,354,000 after purchasing an additional 56,676 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Enphase Energy during the 4th quarter worth approximately $1,528,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Enphase Energy by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,526 shares of the semiconductor company's stock worth $3,264,000 after acquiring an additional 3,911 shares during the last quarter. Lane Generational LLC grew its holdings in Enphase Energy by 132.8% during the 4th quarter. Lane Generational LLC now owns 65,844 shares of the semiconductor company's stock worth $4,522,000 after acquiring an additional 37,564 shares during the last quarter. Finally, Saturna Capital Corp grew its holdings in Enphase Energy by 123.9% during the 4th quarter. Saturna Capital Corp now owns 6,515 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 3,605 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

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.