Enphase Energy (NASDAQ:ENPH) Price Target Raised to $72.00

Enphase Energy (NASDAQ:ENPH) had its price objective raised by Citigroup from $71.00 to $72.00 in a report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on ENPH. Northland Securities reduced their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Barclays reduced their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial dropped their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Roth Mkm lowered their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $76.00 price target on shares of Enphase Energy in a research report on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $97.86.

Enphase Energy Stock Down 4.2 %

Shares of ENPH opened at $66.74 on Wednesday. The business’s fifty day moving average price is $70.87 and its two-hundred day moving average price is $94.51. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 151.68, a PEG ratio of 21.92 and a beta of 1.69. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, analysts predict that Enphase Energy will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC lifted its position in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the last quarter. UMB Bank n.a. lifted its holdings in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in Enphase Energy during the third quarter worth $34,000. Stone House Investment Management LLC acquired a new position in Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Quarry LP bought a new position in Enphase Energy in the 3rd quarter valued at about $37,000. 72.12% of the stock is currently 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.