Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $37.59 and last traded at $38.01, with a volume of 30760753 shares changing hands. The stock had previously closed at $47.29.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on ENPH. Truist Financial reduced their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Redburn Atlantic started coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They issued a "neutral" rating on the stock. Guggenheim reiterated a "sell" rating and set a $33.00 price objective on shares of Enphase Energy in a research note on Wednesday, April 23rd. Canaccord Genuity Group lowered their target price on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Oppenheimer set a $84.00 price objective on Enphase Energy and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.87.
Check Out Our Latest Stock Analysis on Enphase Energy
Enphase Energy Stock Up 1.4%
The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The business has a 50-day simple moving average of $51.41 and a 200-day simple moving average of $60.93. The company has a market cap of $5.27 billion, a PE ratio of 54.29 and a beta of 1.80.
Insider Transactions at Enphase Energy
In other news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased 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 owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.
Hedge Funds Weigh In On Enphase Energy
A number of institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Enphase Energy by 0.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock worth $5,421,000 after buying an additional 238 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Enphase Energy by 2.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company's stock worth $643,000 after acquiring an additional 255 shares during the period. First Horizon Advisors Inc. increased 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 acquiring an additional 258 shares during the last quarter. Leibman Financial Services Inc. increased its stake in Enphase Energy by 1.0% during the first quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company's stock worth $1,829,000 after acquiring an additional 305 shares during the last quarter. Finally, McGowan Group Asset Management Inc. lifted its stake in shares of Enphase Energy by 2.0% in the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock valued at $1,145,000 after purchasing an additional 319 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.
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.
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