Enphase Energy (NASDAQ:ENPH) Price Target Cut to $91.00 by Analysts at JPMorgan Chase & Co.

Enphase Energy (NASDAQ:ENPH) had its price target decreased by JPMorgan Chase & Co. from $112.00 to $91.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on ENPH. Bank of America reduced their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. TD Cowen reduced their target price on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley lowered their price target on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Citigroup raised their price objective on shares of Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Finally, Truist Financial reiterated a “hold” rating and set a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $94.09.

Enphase Energy Stock Down 1.4 %

Enphase Energy stock opened at $63.36 on Thursday. The firm has a market capitalization of $8.56 billion, a P/E ratio of 144.00, a P/E/G ratio of 7.79 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The stock’s fifty day simple moving average is $69.38 and its 200-day simple moving average is $91.64.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently modified their holdings of ENPH. Baillie Gifford & Co. raised its position in Enphase Energy by 0.9% in the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after acquiring an additional 58,040 shares in the last quarter. Swedbank AB grew its stake in shares of Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the period. Geode Capital Management LLC increased its holdings in shares of Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after buying an additional 1,258,778 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.