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

Enphase Energy (NASDAQ:ENPH) was downgraded by BNP Paribas Exane from a “neutral” rating to an “underperform” rating in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $40.00 price target on the semiconductor company’s stock. BNP Paribas Exane’s target price indicates a potential downside of 17.13% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Enphase Energy from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Enphase Energy from $90.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Oppenheimer set a $84.00 price target on shares of Enphase Energy and gave the stock an “outperform” rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets restated an “underperform” rating and issued a $39.00 price target (down from $46.00) on shares of Enphase Energy in a report on Tuesday. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $68.87.

Enphase Energy Trading Up 5.8%

ENPH opened at $48.27 on Tuesday. Enphase Energy has a twelve month low of $43.09 and a twelve month high of $141.63. 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 company has a fifty day moving average of $53.89 and a 200-day moving average of $63.16. The stock has a market cap of $6.33 billion, a PE ratio of 65.23 and a beta of 1.80.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’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 sale, the director now owns 1,881,760 shares of the company’s stock, valued at $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 owned by insiders.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently modified their holdings of ENPH. Czech National Bank increased its stake in shares of Enphase Energy by 6.2% in the fourth quarter. Czech National Bank now owns 29,294 shares of the semiconductor company’s stock worth $2,012,000 after purchasing an additional 1,708 shares in the last quarter. Eastern Bank increased its stake in shares of Enphase Energy by 29.7% in the fourth quarter. Eastern Bank now owns 12,225 shares of the semiconductor company’s stock worth $840,000 after purchasing an additional 2,800 shares in the last quarter. Leibman Financial Services Inc. increased its stake in shares of Enphase Energy by 58.6% in the fourth quarter. Leibman Financial Services Inc. now owns 29,169 shares of the semiconductor company’s stock worth $2,003,000 after purchasing an additional 10,774 shares in the last quarter. Signal Advisors Wealth LLC grew its stake in Enphase Energy by 99.2% during the fourth quarter. Signal Advisors Wealth LLC now owns 19,988 shares of the semiconductor company’s stock valued at $1,373,000 after acquiring an additional 9,955 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after acquiring an additional 365,356 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.