Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $40.88, but opened at $39.91. Enphase Energy shares last traded at $38.85, with a volume of 2,831,356 shares.
Analyst Upgrades and Downgrades
ENPH has been the topic of several recent analyst reports. Piper Sandler dropped their price target on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. DZ Bank downgraded Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. BNP Paribas Exane cut Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price on the stock. in a research report on Tuesday, May 13th. Truist Financial dropped their target price 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. Finally, Susquehanna dropped their price target on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Twelve analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $65.44.
Get Our Latest Research Report on ENPH
Enphase Energy Trading Down 3.0%
The business's 50-day moving average price is $43.73 and its 200 day moving average price is $56.28. 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 firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 36.71 and a beta of 1.70.
Insider Activity
In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ENPH. Inspire Investing LLC lifted its stake in shares of Enphase Energy by 9.1% in the first quarter. Inspire Investing LLC now owns 17,439 shares of the semiconductor company's stock valued at $1,082,000 after buying an additional 1,451 shares during the period. Acadian Asset Management LLC bought a new position in Enphase Energy in the 1st quarter worth approximately $121,000. IFM Investors Pty Ltd raised its holdings in Enphase Energy by 5.4% during the 1st quarter. IFM Investors Pty Ltd now owns 29,021 shares of the semiconductor company's stock worth $1,801,000 after purchasing an additional 1,486 shares during the last quarter. Bayforest Capital Ltd raised its holdings in Enphase Energy by 139.8% during the 1st quarter. Bayforest Capital Ltd now owns 12,985 shares of the semiconductor company's stock worth $806,000 after purchasing an additional 7,569 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in Enphase Energy by 37.9% during the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company's stock worth $694,000 after purchasing an additional 3,077 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.
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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