Barclays Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target cut by stock analysts at Barclays from $40.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s price target indicates a potential downside of 30.43% from the company’s previous close.

Several other brokerages also recently commented on ENPH. Citigroup reduced their target price on shares of Enphase Energy from $47.00 to $43.00 and set a “sell” rating for the company in a report on Thursday, June 5th. BNP Paribas Exane downgraded shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 target price for the company. in a report on Tuesday, May 13th. Canaccord Genuity Group cut their price objective on shares of Enphase Energy from $70.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Guggenheim reaffirmed a “sell” rating and set a $33.00 price target on shares of Enphase Energy in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed 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, May 13th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average price target of $61.20.

Enphase Energy Stock Performance

Shares of ENPH opened at $40.25 on Monday. The firm has a 50-day moving average of $42.52 and a 200-day moving average of $53.87. Enphase Energy has a one year low of $33.01 and a one year high of $130.08. The company has a market cap of $5.28 billion, a PE ratio of 37.27 and a beta of 1.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in ENPH. Fifth Third Bancorp raised its holdings in shares of Enphase Energy by 60.7% during the 2nd quarter. Fifth Third Bancorp now owns 5,925 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 2,237 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in Enphase Energy by 271.7% in the second quarter. Compagnie Lombard Odier SCmA now owns 9,576 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 7,000 shares in the last quarter. CX Institutional boosted its holdings in Enphase Energy by 135.4% in the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 623 shares in the last quarter. Diversified Trust Co purchased a new stake in Enphase Energy in the second quarter valued at approximately $305,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Enphase Energy by 827.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after purchasing an additional 1,028,259 shares during 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.