Enphase Energy (NASDAQ:ENPH – Free Report) had its target price trimmed by Piper Sandler from $210.00 to $180.00 in a research note released on Friday, FlyOnTheWall reports.
A number of other research analysts have also recently issued reports on ENPH. The Goldman Sachs Group dropped their target price on shares of Enphase Energy from $285.00 to $250.00 and set a buy rating for the company in a report on Wednesday, July 19th. Susquehanna dropped their price target on Enphase Energy from $225.00 to $200.00 in a research report on Friday. Wells Fargo & Company cut shares of Enphase Energy from an overweight rating to an equal weight rating and lowered their price objective for the company from $230.00 to $171.00 in a research note on Friday. Northland Securities reduced their price target on shares of Enphase Energy from $300.00 to $235.00 in a report on Wednesday, June 28th. Finally, B. Riley raised shares of Enphase Energy from a neutral rating to a buy rating and dropped their price objective for the stock from $247.00 to $214.00 in a research note on Friday, June 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of Moderate Buy and a consensus price target of $246.86.
Enphase Energy Stock Down 7.5 %
Enphase Energy stock opened at $154.33 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.22 and a current ratio of 3.44. Enphase Energy has a fifty-two week low of $145.67 and a fifty-two week high of $339.92. The stock has a 50-day simple moving average of $172.78 and a 200-day simple moving average of $192.32. The company has a market capitalization of $21.14 billion, a P/E ratio of 38.87, a PEG ratio of 1.51 and a beta of 1.44.
Insider Activity at Enphase Energy
In other Enphase Energy news, CFO Mandy Yang acquired 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were purchased at an average price of $156.86 per share, with a total value of $549,010.00. Following the completion of the transaction, the chief financial officer now owns 99,043 shares in the company, valued at $15,535,884.98. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Enphase Energy news, EVP David A. Ranhoff sold 1,791 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $175.10, for a total value of $313,604.10. Following the sale, the executive vice president now owns 82,644 shares of the company’s stock, valued at approximately $14,470,964.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang purchased 3,500 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were acquired at an average price of $156.86 per share, with a total value of $549,010.00. Following the completion of the acquisition, the chief financial officer now owns 99,043 shares of the company’s stock, valued at $15,535,884.98. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in ENPH. Y.D. More Investments Ltd bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $438,000. Venturi Wealth Management LLC acquired a new stake in Enphase Energy during the first quarter valued at approximately $37,000. Viking Fund Management LLC boosted its holdings in Enphase Energy by 100.0% during the first quarter. Viking Fund Management LLC now owns 8,000 shares of the semiconductor company’s stock valued at $1,682,000 after purchasing an additional 4,000 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Enphase Energy by 10.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $332,000 after buying an additional 97 shares in the last quarter. Finally, Arosa Capital Management LP boosted its stake in Enphase Energy by 30.0% in the 4th quarter. Arosa Capital Management LP now owns 19,500 shares of the semiconductor company’s stock valued at $5,167,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 71.94% 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 services.
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