Enphase Energy, Inc. (NASDAQ:ENPH) Receives $100.33 Consensus Target Price from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have been given a consensus recommendation of "Hold" by the thirty-three ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $100.33.

Several equities analysts have weighed in on ENPH shares. Guggenheim downgraded Enphase Energy from a "neutral" rating to a "sell" rating and set a $73.00 price target for the company. in a research report on Wednesday, October 23rd. OTR Global raised Enphase Energy from a "negative" rating to a "mixed" rating in a research note on Friday. Truist Financial cut their target price on shares of Enphase Energy from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Hsbc Global Res cut shares of Enphase Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group lowered shares of Enphase Energy from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd.

Institutional Trading of Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 279 shares in the last quarter. UMB Bank n.a. lifted its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC purchased a new position in Enphase Energy in the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC acquired a new stake in Enphase Energy in the third quarter valued at approximately $34,000. Finally, Quarry LP purchased a new stake in shares of Enphase Energy during the third quarter valued at approximately $37,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $5.65 on Friday, hitting $71.45. The company's stock had a trading volume of 6,559,520 shares, compared to its average volume of 4,030,386. The company has a market capitalization of $9.65 billion, a P/E ratio of 162.39, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The firm has a fifty day moving average price of $76.04 and a 200-day moving average price of $100.07. 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 - Get Free Report) last announced its quarterly 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). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million during the quarter, compared to analysts' expectations of $392.51 million. During the same period last year, the company earned $0.84 EPS. The firm's revenue for the quarter was down 30.9% on a year-over-year basis. On average, equities research analysts expect that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

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.