Enphase Energy, Inc. (NASDAQ:ENPH) Receives $97.86 Average PT from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) has received an average rating of "Hold" from the thirty-two brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $97.09.

Several research firms have recently commented on ENPH. Janney Montgomery Scott downgraded Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a report on Wednesday, October 23rd. TD Cowen cut their target price on Enphase Energy from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI reduced their target price on Enphase Energy from $133.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Raymond James dropped their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Finally, Truist Financial dropped their price target on Enphase Energy from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th.

Enphase Energy Price Performance

NASDAQ ENPH traded down $1.42 during trading hours on Tuesday, reaching $65.45. 3,296,864 shares of the stock traded hands, compared to its average volume of 3,069,420. The stock has a 50 day simple moving average of $70.12 and a two-hundred day simple moving average of $93.84. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 148.75, a price-to-earnings-growth ratio of 21.92 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 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 business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm's revenue was down 30.9% on a year-over-year basis. On average, analysts predict that Enphase Energy will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC lifted its holdings in Enphase Energy by 6,975.0% in 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 in the last quarter. UMB Bank n.a. grew its stake in 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 acquiring an additional 259 shares in the last quarter. nVerses Capital LLC bought a new stake in Enphase Energy in the 3rd quarter valued at $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the 3rd quarter worth $34,000. Finally, Quarry LP bought a new stake in shares of Enphase Energy in the third quarter worth about $37,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

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.