Enphase Energy (NASDAQ:ENPH) Price Target Cut to $91.00 by Analysts at Barclays

Enphase Energy (NASDAQ:ENPH) had its price target lowered by Barclays from $114.00 to $91.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the semiconductor company’s stock.

A number of other brokerages also recently issued reports on ENPH. Evercore ISI lowered their price target on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Truist Financial lowered their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. 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. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Finally, Hsbc Global Res downgraded Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.59.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $63.47 on Tuesday. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock has a market cap of $8.58 billion, a PE ratio of 144.25, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. The business has a 50-day simple moving average of $69.29 and a 200-day simple moving average of $93.19.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was down 30.9% compared to the same quarter last year. On average, equities analysts expect that Enphase Energy will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. raised its stake in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 93 shares during the period. Green Alpha Advisors LLC increased its holdings in shares of Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after buying an additional 102 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 118 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in Enphase Energy by 19.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 125 shares during the last quarter. Finally, Empirical Finance LLC grew its position in Enphase Energy by 3.9% in the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock worth $415,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds 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.