Enphase Energy, Inc. (NASDAQ:ENPH – Get Free Report)’s stock price gapped down before the market opened on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $128.00 to $124.00. The stock had previously closed at $119.01, but opened at $110.92. JPMorgan Chase & Co. currently has an overweight rating on the stock. Enphase Energy shares last traded at $110.32, with a volume of 1,466,890 shares changing hands.
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets decreased their price target on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $111.00 target price (down from $113.00) on shares of Enphase Energy in a report on Wednesday, April 24th. Craig Hallum reduced their target price on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. DZ Bank assumed coverage on Enphase Energy in a report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 target price on the stock. Finally, Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $136.55.
Check Out Our Latest Analysis on ENPH
Insider Transactions at Enphase Energy
Institutional Investors Weigh In On Enphase Energy
Several hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC boosted its stake in shares of Enphase Energy by 11.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,713 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 486 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Enphase Energy during the 3rd quarter worth about $795,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Enphase Energy during the 3rd quarter worth about $373,000. Aigen Investment Management LP purchased a new stake in shares of Enphase Energy during the 3rd quarter worth about $376,000. Finally, Rathbones Group PLC boosted its stake in shares of Enphase Energy by 20.8% during the 3rd quarter. Rathbones Group PLC now owns 23,114 shares of the semiconductor company’s stock worth $2,777,000 after acquiring an additional 3,982 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.
Enphase Energy Stock Performance
The firm’s 50 day moving average price is $118.17 and its 200-day moving average price is $118.06. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. The firm has a market capitalization of $14.96 billion, a PE ratio of 57.27, a price-to-earnings-growth ratio of 4.58 and a beta of 1.77.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, research analysts expect that Enphase Energy, Inc. will post 1.53 EPS for the current 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.
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