BMO Capital Markets Reaffirms "Underperform" Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH - Get Free Report)'s stock had its "underperform" rating reiterated by BMO Capital Markets in a report issued on Tuesday, Marketbeat reports. They presently have a $39.00 price objective on the semiconductor company's stock, down from their previous price objective of $46.00. BMO Capital Markets' target price would indicate a potential downside of 22.62% from the company's current price.

Several other analysts have also issued reports on the company. Citigroup reiterated a "sell" rating and set a $47.00 price objective on shares of Enphase Energy in a report on Thursday, April 17th. Mizuho cut their price objective on Enphase Energy from $81.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $54.00 price objective (down from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Barclays cut their price objective on Enphase Energy from $58.00 to $51.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, TD Cowen cut their target price on Enphase Energy from $78.00 to $58.00 and set a "buy" rating on the stock 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. According to data from MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and a consensus target price of $68.87.

Enphase Energy Stock Up 1.4%

Shares of NASDAQ:ENPH traded up $0.68 during midday trading on Tuesday, hitting $50.40. 5,815,589 shares of the stock were exchanged, compared to its average volume of 4,254,742. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy has a 52-week low of $43.09 and a 52-week high of $141.63. The business's fifty day simple moving average is $53.41 and its two-hundred day simple moving average is $62.69. The company has a market capitalization of $6.61 billion, a PE ratio of 68.11 and a beta of 1.80.

Insider Transactions at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. grew its position 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 worth $685,799,000 after buying an additional 2,680,567 shares in the last quarter. Invesco Ltd. grew its position in Enphase Energy by 43.4% during the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after buying an additional 1,378,978 shares in the last quarter. AQR Capital Management LLC grew its position in Enphase Energy by 9,236.6% during the first quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company's stock worth $41,483,000 after buying an additional 684,157 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in Enphase Energy by 531.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock worth $55,342,000 after buying an additional 678,163 shares in the last quarter. Finally, Norges Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $46,339,000. 72.12% of the stock is 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.