Enphase Energy (NASDAQ:ENPH) Cut to Neutral at Mizuho

Mizuho downgraded shares of Enphase Energy (NASDAQ:ENPH) from an outperform rating to a neutral rating in a report published on Thursday, MarketBeat reports. They currently have $37.00 price objective on the semiconductor company’s stock, down from their prior price objective of $50.00.

Other equities research analysts have also issued reports about the company. Bank of America reduced their target price on Enphase Energy from $31.00 to $30.00 and set an “underperform” rating for the company in a report on Wednesday, July 23rd. Susquehanna reduced their target price on Enphase Energy from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Citigroup boosted their target price on Enphase Energy from $30.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday, October 21st. Zacks Research upgraded Enphase Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Glj Research boosted their target price on Enphase Energy from $19.80 to $23.49 and gave the stock a “sell” rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and thirteen have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $46.37.

Enphase Energy Stock Up 1.7%

Shares of Enphase Energy stock opened at $36.23 on Thursday. The stock has a 50-day simple moving average of $37.14 and a 200-day simple moving average of $40.39. Enphase Energy has a 52-week low of $29.89 and a 52-week high of $89.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 28.30 and a beta of 1.56.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the completion of the purchase, the chief executive officer owned 1,620,632 shares of the company’s stock, valued at $49,947,878.24. This trade represents a 0.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Enphase Energy

A number of large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its position in Enphase Energy by 0.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $5,421,000 after acquiring an additional 238 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Enphase Energy by 2.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company’s stock valued at $643,000 after acquiring an additional 255 shares during the period. First Horizon Advisors Inc. grew its position in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 258 shares during the period. Empirical Finance LLC grew its position in Enphase Energy by 9.1% in the first quarter. Empirical Finance LLC now owns 3,996 shares of the semiconductor company’s stock valued at $248,000 after acquiring an additional 332 shares during the period. Finally, Cidel Asset Management Inc. grew its position in Enphase Energy by 7.1% in the first quarter. Cidel Asset Management Inc. now owns 5,070 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 338 shares during the period. 72.12% of the stock is currently owned by institutional investors.

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.