Enphase Energy (NASDAQ:ENPH) Stock Price Expected to Rise, Citigroup Analyst Says

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

A number of other research firms have also recently weighed in on ENPH. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a research note on Wednesday, October 23rd. Barclays lowered their target price on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Susquehanna cut their price target on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. 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, October 23rd. Finally, BNP Paribas downgraded 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. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $97.86.

Enphase Energy Stock Down 5.2 %

Shares of Enphase Energy stock opened at $69.66 on Wednesday. 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. The business’s 50 day simple moving average is $71.13 and its 200 day simple moving average is $94.68. The firm has a market cap of $9.41 billion, a PE ratio of 158.32, a P/E/G ratio of 22.03 and a beta of 1.68.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC bought a new position in Enphase Energy during the 2nd quarter valued at $1,076,000. TD Asset Management Inc lifted its position in shares of Enphase Energy by 2.6% during the second quarter. TD Asset Management Inc now owns 47,350 shares of the semiconductor company’s stock valued at $4,721,000 after purchasing an additional 1,209 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Enphase Energy by 30.2% in the 2nd quarter. National Bank of Canada FI now owns 42,459 shares of the semiconductor company’s stock worth $4,129,000 after buying an additional 9,857 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Enphase Energy by 20.1% in the 2nd quarter. Private Advisor Group LLC now owns 19,046 shares of the semiconductor company’s stock worth $1,899,000 after buying an additional 3,182 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Enphase Energy in the second quarter valued at about $431,000. 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.