Enphase Energy (NASDAQ:ENPH) Lowered to Underperform Rating by BNP Paribas Exane

Enphase Energy (NASDAQ:ENPH) was downgraded by equities researchers at BNP Paribas Exane from a “neutral” rating to an “underperform” rating in a report issued on Tuesday,Finviz reports. They currently have a $40.00 target price on the semiconductor company’s stock. BNP Paribas Exane’s price objective would suggest a potential downside of 16.56% from the company’s current price.

A number of other brokerages have also recently commented on ENPH. Royal Bank of Canada reiterated a “sector perform” rating and issued a $54.00 target price (down from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. BMO Capital Markets restated an “underperform” rating and set a $39.00 price target (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday. Citigroup reissued a “sell” rating and set a $47.00 target price on shares of Enphase Energy in a research note on Thursday, April 17th. Finally, Barclays decreased their target price on shares of Enphase Energy from $58.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.87.

Enphase Energy Stock Down 5.6%

Shares of ENPH opened at $47.94 on Tuesday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 64.78 and a beta of 1.80. 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 stock’s 50-day moving average price is $54.41 and its 200-day moving average price is $63.39. Enphase Energy has a 52 week low of $43.09 and a 52 week high of $141.63.

Insider Activity

In related news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction 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 approximately $4,972,139.68. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased 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 now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. CX Institutional acquired a new position in Enphase Energy during the first quarter valued at $29,000. First Horizon Advisors Inc. lifted its holdings in shares of Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 258 shares during the period. Venturi Wealth Management LLC raised its stake in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Enphase Energy during the fourth quarter worth about $47,000. Finally, GeoWealth Management LLC increased its holdings in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds 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.