Enphase Energy (NASDAQ:ENPH) Stock Price Down 4.4% - What's Next?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) traded down 4.4% on Friday . The stock traded as low as $41.31 and last traded at $41.10. 2,484,812 shares were traded during trading, a decline of 49% from the average session volume of 4,825,070 shares. The stock had previously closed at $43.00.

Analysts Set New Price Targets

ENPH has been the subject of a number of recent analyst reports. Canaccord Genuity Group reduced their target price on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Oppenheimer set a $84.00 price objective on shares of Enphase Energy and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group reduced their price objective on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley cut Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective on the stock. in a research report on Wednesday, April 23rd. Finally, BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective on the stock. in a report on Tuesday, May 13th. Twelve equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Enphase Energy has an average rating of "Hold" and an average target price of $65.44.

Enphase Energy Stock Down 7.1%

The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $43.96 and a two-hundred day simple moving average of $56.75. The stock has a market capitalization of $5.24 billion, a P/E ratio of 36.68 and a beta of 1.69.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its stake 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 valued at $5,421,000 after buying an additional 238 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Enphase Energy by 2.5% during 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 in the last quarter. First Horizon Advisors Inc. raised its holdings in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after buying an additional 258 shares during the last quarter. Leibman Financial Services Inc. lifted its position 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 valued at $1,829,000 after purchasing an additional 305 shares during the period. Finally, McGowan Group Asset Management Inc. grew its position in Enphase Energy by 2.0% during the fourth quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock valued at $1,145,000 after buying an additional 319 shares during the period. Institutional investors own 72.12% of the company's stock.

Enphase Energy Company Profile

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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