Piper Sandler Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price lowered by Piper Sandler from $70.00 to $65.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

ENPH has been the topic of several other research reports. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Morgan Stanley dropped their target price on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $82.00 in a report on Wednesday. Craig Hallum dropped their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Truist Financial reiterated a “hold” rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average price target of $90.42.

Enphase Energy Price Performance

ENPH opened at $63.53 on Wednesday. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 144.39, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. Enphase Energy has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The company’s 50-day moving average price is $68.61 and its 200 day moving average price is $88.50. 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) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. As a group, sell-side analysts expect that Enphase Energy will post 0.92 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ENPH. Sanctuary Advisors LLC acquired a new stake in Enphase Energy in the 2nd quarter valued at about $1,878,000. Czech National Bank increased its position in Enphase Energy by 6.4% in the 3rd quarter. Czech National Bank now owns 27,586 shares of the semiconductor company’s stock valued at $3,118,000 after acquiring an additional 1,658 shares in the last quarter. GAMMA Investing LLC increased its position in Enphase Energy by 32.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,130 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 522 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Enphase Energy in the 3rd quarter valued at about $210,000. Finally, Leibman Financial Services Inc. increased its position in Enphase Energy by 1.7% in the 3rd quarter. Leibman Financial Services Inc. now owns 18,395 shares of the semiconductor company’s stock valued at $2,079,000 after acquiring an additional 315 shares in the last quarter. 72.12% of the stock is 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.