Enphase Energy (NASDAQ:ENPH) Lowered to “Neutral” at Susquehanna

Susquehanna lowered shares of Enphase Energy (NASDAQ:ENPH) from a positive rating to a neutral rating in a research note released on Wednesday, Marketbeat.com reports. The brokerage currently has $104.00 price objective on the semiconductor company’s stock, down from their prior price objective of $147.00.

A number of other brokerages also recently weighed in on ENPH. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $120.00 to $144.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group dropped their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets cut their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Morgan Stanley lifted their price target on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler increased their price objective on shares of Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $122.33.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $91.64 on Wednesday. The company has a market capitalization of $12.47 billion, a P/E ratio of 47.73, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The business’s 50-day moving average price is $111.25 and its two-hundred day moving average price is $112.87. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a one year low of $73.49 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. Analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin Edwards Inc. raised its position in shares of Enphase Energy by 2.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares in the last quarter. Fermata Advisors LLC lifted its stake in Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after buying an additional 100 shares during the period. Hollencrest Capital Management boosted its holdings in shares of Enphase Energy by 3.3% during the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after buying an additional 100 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in shares of Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.