Enphase Energy's (ENPH) Hold Rating Reiterated at TD Cowen

TD Cowen reiterated their hold rating on shares of Enphase Energy (NASDAQ:ENPH - Free Report) in a research report released on Tuesday, Marketbeat reports. They currently have a $45.00 target price on the semiconductor company's stock, down from their prior target price of $58.00.

Other analysts also recently issued reports about the company. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a report on Wednesday, April 23rd. Truist Financial reduced their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 24th. KeyCorp reiterated an "underweight" rating and issued a $31.00 target price on shares of Enphase Energy in a report on Tuesday, June 17th. BMO Capital Markets reiterated an "underperform" rating and issued a $39.00 target price (down from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Finally, Susquehanna reduced their target price on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $65.00.

Enphase Energy Stock Down 3.6%

Shares of ENPH stock traded down $1.52 on Tuesday, hitting $40.94. The stock had a trading volume of 9,625,433 shares, compared to its average volume of 4,985,170. 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 moving average price of $42.92 and a 200 day moving average price of $55.04. The company has a market cap of $5.37 billion, a PE ratio of 37.91 and a beta of 1.67. Enphase Energy has a one year low of $33.01 and a one year high of $130.08.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. Woodline Partners LP acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $557,000. QRG Capital Management Inc. acquired a new stake in shares of Enphase Energy during the 1st quarter worth approximately $512,000. Norges Bank acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $46,339,000. Bouvel Investment Partners LLC acquired a new stake in shares of Enphase Energy during the 1st quarter worth approximately $847,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $18,580,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

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.