Enphase Energy’s (ENPH) Hold Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of Enphase Energy (NASDAQ:ENPH) in a research note published on Thursday morning, Marketbeat.com reports. The firm currently has a $65.00 target price on the semiconductor company’s stock, down from their previous target price of $100.00.

A number of other equities analysts have also recently issued reports on ENPH. Jefferies Financial Group cut Enphase Energy from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $93.00 to $61.00 in a report on Thursday, November 7th. Oppenheimer dropped their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Roth Mkm decreased their price target on Enphase Energy from $130.00 to $100.00 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 research report on Friday, November 15th. Finally, Northland Securities decreased their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.59.

Enphase Energy Stock Performance

Shares of ENPH opened at $63.69 on Thursday. 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 has a 12 month low of $58.33 and a 12 month high of $141.63. The company’s fifty day moving average is $69.22 and its 200-day moving average is $92.94. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68.

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

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares during the last quarter. UMB Bank n.a. boosted its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new position in Enphase Energy during the 3rd quarter valued at about $34,000. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy during the third quarter worth $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy in the third quarter valued at about $37,000. 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.