Enphase Energy (NASDAQ:ENPH) PT Lowered to $85.00

Enphase Energy (NASDAQ:ENPH) had its target price reduced by Royal Bank of Canada from $100.00 to $85.00 in a report published on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on ENPH. Piper Sandler lowered their price objective on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Craig Hallum lowered their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $95.00 price target (down previously from $140.00) on shares of Enphase Energy in a research note on Wednesday. Finally, Citigroup decreased their price target on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $83.83 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The business’s 50 day moving average price is $108.44 and its 200-day moving average price is $111.72. The firm has a market capitalization of $11.35 billion, a PE ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. As a group, equities research analysts expect that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. Swedbank AB acquired a new position in shares of Enphase Energy during the 1st quarter worth about $424,130,000. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its position in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy during the 2nd quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Enphase Energy during the 1st quarter worth about $59,128,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.