BNP Paribas Exane Downgrades Enphase Energy (NASDAQ:ENPH) to Underperform

BNP Paribas Exane lowered shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to an underperform rating in a research report released on Tuesday, MarketBeat Ratings reports. They currently have $40.00 price target on the semiconductor company’s stock.

Several other brokerages have also commented on ENPH. Citigroup reissued a “sell” rating and set a $47.00 price target on shares of Enphase Energy in a research note on Thursday, April 17th. Jefferies Financial Group decreased their price target on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group decreased their price target on Enphase Energy from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Guggenheim reissued a “sell” rating and set a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, April 23rd. Finally, TD Cowen decreased their price target on Enphase Energy from $78.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $68.87.

Enphase Energy Price Performance

Shares of ENPH opened at $49.72 on Tuesday. Enphase Energy has a twelve month low of $43.09 and a twelve month high of $141.63. The stock’s 50 day moving average is $53.61 and its two-hundred day moving average is $62.92. The firm has a market capitalization of $6.52 billion, a PE ratio of 67.19 and a beta of 1.80. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,598,696 shares in the company, valued at $74,099,559.60. The trade was a 0.25% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ENPH. Federation des caisses Desjardins du Quebec increased its holdings in shares of Enphase Energy by 222.7% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 18,468 shares of the semiconductor company’s stock worth $1,147,000 after buying an additional 12,745 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Enphase Energy during the 1st quarter worth $1,689,000. Retirement Planning Co of New England Inc. acquired a new stake in shares of Enphase Energy during the 1st quarter worth $223,000. Quarry LP acquired a new stake in shares of Enphase Energy during the 1st quarter worth $70,000. Finally, Vident Advisory LLC acquired a new stake in shares of Enphase Energy during the 1st quarter worth $359,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.