Enphase Energy (NASDAQ:ENPH) Price Target Cut to $66.00 by Analysts at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its price target cut by BMO Capital Markets from $69.00 to $66.00 in a research report report published on Wednesday,Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on ENPH. BNP Paribas downgraded 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 note on Friday, November 8th. TD Cowen reduced their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Bank of America lowered their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Northland Securities lowered their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $90.79.

Enphase Energy Price Performance

Enphase Energy stock opened at $65.26 on Wednesday. The firm has a market capitalization of $8.82 billion, a PE ratio of 148.32, a P/E/G ratio of 8.22 and a beta of 1.68. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The firm’s 50-day simple moving average is $68.88 and its 200 day simple moving average is $88.95. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. On average, equities research analysts predict that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

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