Enphase Energy (NASDAQ:ENPH) Lowered to “Neutral” at B. Riley

B. Riley cut shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a neutral rating in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has $35.00 price objective on the semiconductor company’s stock, up from their prior price objective of $28.00.

A number of other research firms also recently weighed in on ENPH. Roth Capital set a $30.00 price objective on Enphase Energy and gave the company a buy rating in a report on Friday, October 25th. TheStreet upgraded Enphase Energy from a c+ rating to a b rating in a report on Thursday, January 2nd. Goldman Sachs Group started coverage on Enphase Energy in a report on Monday, December 2nd. They set a buy rating and a $31.00 price target for the company. Finally, BidaskClub upgraded Enphase Energy from a buy rating to a strong-buy rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $35.46.

NASDAQ ENPH traded down $0.25 on Thursday, reaching $41.09. The company had a trading volume of 4,911,598 shares, compared to its average volume of 5,478,799. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 120.85 and a beta of 0.93. Enphase Energy has a fifty-two week low of $7.01 and a fifty-two week high of $42.39. The business has a 50 day moving average of $32.29 and a two-hundred day moving average of $26.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.67 and a quick ratio of 2.46.

In other Enphase Energy news, CFO Eric Branderiz purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $17.70 per share, for a total transaction of $177,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeff Mcneil sold 7,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $20.02, for a total value of $140,140.00. Following the sale, the chief operating officer now owns 305,038 shares of the company’s stock, valued at $6,106,860.76. The disclosure for this sale can be found here. Company insiders own 12.46% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Enphase Energy by 607.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,430 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Enphase Energy during the 3rd quarter worth about $67,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Enphase Energy during the 4th quarter worth about $75,000. Quest Capital Management Inc. ADV bought a new position in shares of Enphase Energy during the 3rd quarter worth about $76,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Enphase Energy by 95.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,075 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,505 shares in the last quarter. 44.62% of the stock is currently owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that 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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