Wells Fargo & Company Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by stock analysts at Wells Fargo & Company from $83.00 to $77.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 21.20% from the company’s previous close.

ENPH has been the topic of a number of other reports. BMO Capital Markets decreased their target price on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday. Glj Research reaffirmed a “sell” rating and set a $50.69 price target on shares of Enphase Energy in a report on Tuesday. Morgan Stanley dropped their price objective on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday. Northland Securities lowered their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $154.00 to $81.00 in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Price Performance

NASDAQ ENPH opened at $63.53 on Thursday. The company has a 50-day moving average price of $68.61 and a 200-day moving average price of $88.50. 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 firm has a market capitalization of $8.58 billion, a P/E ratio of 144.39, a PEG ratio of 8.22 and a beta of 1.68.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in 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 purchasing an additional 279 shares during the period. UMB Bank n.a. increased its stake in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the period. nVerses Capital LLC bought a new stake in shares of Enphase Energy in the third quarter valued at about $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the third quarter worth about $34,000. Finally, Quarry LP bought a new position in Enphase Energy during the 3rd quarter worth about $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.