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

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $128.00 to $124.00. The stock had previously closed at $119.01, but opened at $110.92. JPMorgan Chase & Co. currently has an overweight rating on the stock. Enphase Energy shares last traded at $110.32, with a volume of 1,466,890 shares traded.

ENPH has been the subject of a number of other reports. Jefferies Financial Group lowered Enphase Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $135.00 to $111.00 in a report on Wednesday, April 24th. Truist Financial cut their price target on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. HSBC raised Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Monday, June 10th. Citigroup lowered Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Finally, Susquehanna reissued a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $136.55.

Insider Activity at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the sale, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the sale, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold a total of 349,526 shares of company stock worth $43,721,225 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Bogart Wealth LLC purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $26,000. Manchester Capital Management LLC grew its stake in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after buying an additional 203 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $31,000. Chilton Capital Management LLC grew its stake in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in Enphase Energy during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 1.8 %

The firm has a 50 day simple moving average of $117.71 and a 200 day simple moving average of $117.98. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $14.51 billion, a PE ratio of 55.56, a P/E/G ratio of 4.58 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The business had revenue of $263.34 million for the quarter, compared to analysts’ expectations of $280.06 million. Equities analysts expect that Enphase Energy, Inc. will post 1.53 earnings per share for the current fiscal year.

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.