Enphase Energy (NASDAQ:ENPH) Shares Gap Down - What's Next?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $42.46, but opened at $40.42. Enphase Energy shares last traded at $40.33, with a volume of 2,166,582 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays lowered Enphase Energy from an "overweight" rating to an "underweight" rating and decreased their price objective for the company from $51.00 to $40.00 in a research report on Tuesday, May 13th. TD Cowen restated a "hold" rating and issued a $45.00 price target (down from $58.00) on shares of Enphase Energy in a research report on Tuesday. BMO Capital Markets restated an "underperform" rating and issued a $39.00 price target (down from $46.00) on shares of Enphase Energy in a research report on Tuesday, May 13th. Piper Sandler reduced their price target on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, BNP Paribas Exane lowered Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target on the stock. in a research report on Tuesday, May 13th. Twelve research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $65.00.

Enphase Energy Trading Down 3.6%

The company has a market cap of $5.37 billion, a P/E ratio of 37.91 and a beta of 1.67. The business has a fifty day moving average price of $42.79 and a 200-day moving average price of $54.95. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer owned 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its stake in Enphase Energy by 0.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock worth $5,421,000 after purchasing an additional 238 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Enphase Energy by 2.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company's stock valued at $643,000 after purchasing an additional 255 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Enphase Energy by 83.0% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. Leibman Financial Services Inc. boosted its holdings in shares of Enphase Energy by 1.0% in the 1st quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company's stock valued at $1,829,000 after purchasing an additional 305 shares in the last quarter. Finally, McGowan Group Asset Management Inc. boosted its holdings 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 in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.