Enphase Energy (NASDAQ:ENPH) Shares Gap Down on Analyst Downgrade

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) gapped down before the market opened on Thursday after Mizuho lowered their price target on the stock from $81.00 to $65.00. The stock had previously closed at $51.75, but opened at $50.15. Mizuho currently has an outperform rating on the stock. Enphase Energy shares last traded at $51.67, with a volume of 571,382 shares changing hands.

Several other research firms also recently commented on ENPH. Redburn Atlantic started coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a "neutral" rating for the company. Guggenheim upgraded Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 target price on the stock in a report on Friday, January 31st. Oppenheimer upped their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Glj Research reissued a "sell" rating and set a $50.69 target price on shares of Enphase Energy in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $82.23.

Insider Activity at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Enphase Energy in the third quarter worth approximately $239,000. Tidal Investments LLC increased its holdings in shares of Enphase Energy by 121.4% in the 3rd quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company's stock worth $13,893,000 after purchasing an additional 67,411 shares in the last quarter. Peapack Gladstone Financial Corp purchased a new position in shares of Enphase Energy in the third quarter worth $292,000. GAMMA Investing LLC lifted its holdings in shares of Enphase Energy by 131.9% during the fourth quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company's stock valued at $339,000 after purchasing an additional 2,810 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Enphase Energy in the 4th quarter worth about $470,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Trading Up 2.3 %

The stock has a 50-day simple moving average of $59.14 and a two-hundred day simple moving average of $68.36. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market cap of $6.99 billion, a PE ratio of 71.32 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.