KeyCorp Reiterates Underweight Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH - Get Free Report)'s stock had its "underweight" rating reaffirmed by analysts at KeyCorp in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $31.00 price objective on the semiconductor company's stock. KeyCorp's price target points to a potential downside of 8.31% from the company's current price.

A number of other brokerages have also issued reports on ENPH. Citigroup cut their target price on Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday, June 5th. Barclays cut shares of Enphase Energy from an "overweight" rating to an "underweight" rating and cut their price target for the company from $51.00 to $40.00 in a report on Tuesday, May 13th. Jefferies Financial Group reduced their price objective on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 23rd. Oppenheimer set a $84.00 target price on shares of Enphase Energy and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Finally, 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 note on Wednesday, April 23rd. Twelve analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $67.07.

Enphase Energy Stock Down 26.4%

Shares of ENPH stock traded down $12.12 on Tuesday, hitting $33.81. The stock had a trading volume of 12,244,889 shares, compared to its average volume of 4,580,218. The stock's 50 day moving average is $46.44 and its 200-day moving average is $58.53. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 45.86 and a beta of 1.69. Enphase Energy has a 52-week low of $33.08 and a 52-week high of $130.08. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Asset Management One Co. Ltd. increased its stake in shares of Enphase Energy by 18.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,310 shares of the semiconductor company's stock worth $4,711,000 after purchasing an additional 10,398 shares during the period. CIBC Asset Management Inc grew its holdings in Enphase Energy by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 21,267 shares of the semiconductor company's stock valued at $1,461,000 after buying an additional 1,109 shares during the last quarter. Venturi Wealth Management LLC increased its position in 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 buying an additional 509 shares during the period. ING Groep NV lifted its holdings in shares of Enphase Energy by 92.9% during the fourth quarter. ING Groep NV now owns 17,256 shares of the semiconductor company's stock worth $1,185,000 after buying an additional 8,311 shares during the last quarter. Finally, Prakash Investment Advisors LLC bought a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $508,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.