Enphase Energy's (ENPH) "Hold" Rating Reaffirmed at Truist Financial

Truist Financial restated their hold rating on shares of Enphase Energy (NASDAQ:ENPH - Free Report) in a report published on Thursday morning, Marketbeat.com reports. Truist Financial currently has a $65.00 price objective on the semiconductor company's stock, down from their previous price objective of $100.00.

Several other research firms have also commented on ENPH. Jefferies Financial Group lowered 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. Royal Bank of Canada cut their target price on shares of Enphase Energy from $85.00 to $71.00 and set a "sector perform" rating for the company in a report on Friday, November 22nd. Janney Montgomery Scott downgraded shares of Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI reduced their price target on Enphase Energy from $133.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $95.59.

Enphase Energy Stock Performance

ENPH stock traded down $2.22 during trading on Thursday, reaching $63.61. The company had a trading volume of 3,114,143 shares, compared to its average volume of 3,020,640. The firm has a 50-day simple moving average of $69.45 and a 200-day simple moving average of $93.40. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 144.36, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy's quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. As a group, sell-side analysts expect that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mandatum Life Insurance Co Ltd increased its position in shares of Enphase Energy by 65.5% during the fourth quarter. Mandatum Life Insurance Co Ltd now owns 35,615 shares of the semiconductor company's stock valued at $2,446,000 after acquiring an additional 14,098 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in Enphase Energy in the 4th quarter valued at approximately $1,387,000. Assenagon Asset Management S.A. raised its position in Enphase Energy by 372.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company's stock valued at $31,830,000 after purchasing an additional 365,356 shares during the period. Signal Advisors Wealth LLC raised its position in Enphase Energy by 99.2% in the fourth quarter. Signal Advisors Wealth LLC now owns 19,988 shares of the semiconductor company's stock valued at $1,373,000 after purchasing an additional 9,955 shares during the period. Finally, Leibman Financial Services Inc. boosted its position in shares of Enphase Energy by 58.6% during the fourth quarter. Leibman Financial Services Inc. now owns 29,169 shares of the semiconductor company's stock worth $2,003,000 after buying an additional 10,774 shares during the period. 72.12% of the stock is currently owned by hedge funds and other 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.