Morgan Stanley Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Morgan Stanley from $93.00 to $74.00 in a research report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on ENPH. BNP Paribas cut shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Friday, November 8th. Canaccord Genuity Group downgraded Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup decreased their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday, October 23rd. Finally, Piper Sandler decreased their price objective on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $102.76.

Enphase Energy Price Performance

NASDAQ:ENPH traded down $4.04 during mid-day trading on Friday, hitting $59.52. The company’s stock had a trading volume of 6,882,178 shares, compared to its average volume of 4,042,153. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average of $95.27 and a 200-day moving average of $107.76. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 135.27, a P/E/G ratio of 6.80 and a beta of 1.77. Enphase Energy has a fifty-two week low of $59.12 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter last year, the business earned $0.84 EPS. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. As a group, equities analysts forecast that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in Enphase Energy in the 3rd quarter worth $1,273,000. Swedbank AB grew its holdings in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after buying an additional 11,890 shares in the last quarter. Impax Asset Management Group plc raised its position in Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Enphase Energy in the 3rd quarter valued at approximately $6,387,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after acquiring an additional 29,013 shares during the last quarter. Institutional investors and hedge funds own 72.12% 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.