Glj Research Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $19.80

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target lowered by investment analysts at Glj Research from $31.11 to $19.80 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "sell" rating on the semiconductor company's stock. Glj Research's price target would indicate a potential downside of 51.97% from the company's previous close.

ENPH has been the subject of several other reports. Guggenheim restated a "sell" rating and issued a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, April 23rd. Barclays decreased their price target on Enphase Energy from $40.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, July 14th. DZ Bank cut Enphase Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group restated a "sell" rating and issued a $32.00 price target (down previously from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Finally, Truist Financial dropped their price objective on Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.46.

Enphase Energy Stock Performance

ENPH stock traded up $1.56 during trading on Tuesday, reaching $41.22. 2,830,810 shares of the company's stock were exchanged, compared to its average volume of 5,074,868. Enphase Energy has a 1-year low of $33.01 and a 1-year high of $130.08. 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 company's fifty day moving average price is $42.00 and its 200-day moving average price is $53.12. The firm has a market cap of $5.41 billion, a PE ratio of 38.17 and a beta of 1.67.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. This represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company's stock.

Institutional Trading of Enphase Energy

A number of hedge funds have recently made changes to their positions in ENPH. QRG Capital Management Inc. lifted its position in Enphase Energy by 4.5% during the second quarter. QRG Capital Management Inc. now owns 8,616 shares of the semiconductor company's stock worth $342,000 after purchasing an additional 369 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Enphase Energy by 13.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,113 shares of the semiconductor company's stock valued at $2,304,000 after acquiring an additional 6,825 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Enphase Energy by 224.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 47,168 shares of the semiconductor company's stock valued at $1,870,000 after acquiring an additional 32,611 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Enphase Energy by 28.8% during the second quarter. V Square Quantitative Management LLC now owns 5,416 shares of the semiconductor company's stock valued at $215,000 after purchasing an additional 1,212 shares during the period. Finally, Tempus Wealth Planning LLC boosted its holdings in Enphase Energy by 140.3% in the second quarter. Tempus Wealth Planning LLC now owns 8,162 shares of the semiconductor company's stock valued at $324,000 after acquiring an additional 4,765 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other 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.

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