Enphase Energy (NASDAQ:ENPH) Shares Gap Down - Should You Sell?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $47.29, but opened at $37.80. Enphase Energy shares last traded at $39.85, with a volume of 9,588,779 shares trading hands.

Analysts Set New Price Targets

ENPH has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $54.00 price target (down from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. Craig Hallum lowered their price objective on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. BNP Paribas Exane downgraded Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective on the stock. in a research note on Tuesday, May 13th. Finally, Susquehanna reduced their target price on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Eleven equities research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $68.87.

Enphase Energy Stock Down 18.8%

The firm has a fifty day moving average of $52.82 and a 200-day moving average of $61.98. 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 firm has a market cap of $5.04 billion, a P/E ratio of 51.71 and a beta of 1.80.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction on Friday, April 25th. The shares were 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 in the company, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ENPH. Acadian Asset Management LLC bought a new position in Enphase Energy during the first quarter worth $121,000. IFM Investors Pty Ltd lifted its stake in shares of 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 buying an additional 1,486 shares during the last quarter. Bayforest Capital Ltd lifted its stake in shares of 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 buying an additional 7,569 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of 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 buying an additional 3,077 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Enphase Energy in the 1st quarter valued at about $314,000. 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.

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