Enphase Energy (NASDAQ:ENPH) Given New $43.00 Price Target at Citigroup

Enphase Energy (NASDAQ:ENPHFree Report) had its price objective trimmed by Citigroup from $47.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm currently has a sell rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other reports. Piper Sandler reduced their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. TD Cowen reduced their price objective on shares of Enphase Energy from $78.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group reduced 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. BNP Paribas Exane cut shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price objective for the company. in a report on Tuesday, May 13th. Finally, Redburn Atlantic began coverage on shares of Enphase Energy in a report on Monday, March 3rd. They set a “neutral” rating for the company. Eleven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $68.31.

View Our Latest Stock Report on ENPH

Enphase Energy Stock Down 4.3%

Shares of ENPH opened at $41.30 on Thursday. Enphase Energy has a 52 week low of $37.59 and a 52 week high of $141.63. The firm has a market cap of $5.42 billion, a P/E ratio of 55.81 and a beta of 1.80. The firm’s 50-day simple moving average is $48.14 and its 200 day simple moving average is $59.81. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on 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 approximately $4,972,139.68. This represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the purchase, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. This represents a 0.25% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional bought a new stake in shares of Enphase Energy during the first quarter valued at approximately $29,000. First Horizon Advisors Inc. increased its position in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 258 shares during the last quarter. SVB Wealth LLC bought a new stake in Enphase Energy in the first quarter worth $38,000. Brooklyn Investment Group increased its position in Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 368 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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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.

Further Reading

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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