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

The Goldman Sachs Group reissued their sell rating on shares of Enphase Energy (NASDAQ:ENPH - Free Report) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage currently has a $32.00 price target on the semiconductor company's stock, down from their prior price target of $77.00.

ENPH has been the topic of a number of other research reports. Truist Financial dropped their price target on Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group cut their target price on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer set a $84.00 price target on Enphase Energy and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on Enphase Energy from $65.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, June 20th. Finally, KeyCorp reaffirmed an "underweight" rating and set a $31.00 target price on shares of Enphase Energy in a report on Tuesday, June 17th. 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.50.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded up $1.91 during trading hours on Wednesday, hitting $42.85. 10,305,286 shares of the company's stock traded hands, compared to its average volume of 5,012,177. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 39.68 and a beta of 1.67. Enphase Energy has a 12-month low of $33.01 and a 12-month high of $130.08. 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 company has a fifty day simple moving average of $42.79 and a 200-day simple moving average of $54.95.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The stock was acquired at an average price 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 trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ENPH. Vanguard Group Inc. lifted its holdings in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after acquiring an additional 44,782 shares during the period. Baillie Gifford & Co. grew its holdings in Enphase Energy by 32.0% during the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after purchasing an additional 2,680,567 shares during the period. Invesco Ltd. raised its stake in shares of Enphase Energy by 15.5% in the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company's stock worth $326,664,000 after buying an additional 706,656 shares during the period. Geode Capital Management LLC lifted its position in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after buying an additional 47,593 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Enphase Energy by 40.9% during the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after purchasing an additional 484,497 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

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.