Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $93.00 at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its target price reduced by research analysts at Morgan Stanley from $102.00 to $93.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 0.83% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Janney Montgomery Scott downgraded Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Wednesday. Guggenheim downgraded 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. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 price target (up previously from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. BMO Capital Markets decreased their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Finally, Piper Sandler decreased their price target on Enphase Energy from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $118.32.

Enphase Energy Trading Up 2.0 %

NASDAQ ENPH opened at $92.23 on Wednesday. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 48.04, a P/E/G ratio of 5.57 and a beta of 1.72. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The business has a 50 day moving average price of $110.47 and a 200-day moving average price of $112.47. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.13). The firm had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, equities analysts expect that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in ENPH. Swedbank AB purchased a new stake in Enphase Energy during the 1st quarter worth about $424,130,000. Baillie Gifford & Co. lifted its holdings in 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 purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its stake in Enphase Energy by 1,021.4% in 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 during the last quarter. Anomaly Capital Management LP bought a new position in Enphase Energy in the 2nd quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board bought a new position in Enphase Energy in the 1st quarter worth about $59,128,000. Hedge funds and other institutional investors 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.