Oppenheimer Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $101.00

Enphase Energy (NASDAQ:ENPH) had its price objective dropped by research analysts at Oppenheimer from $134.00 to $101.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective indicates a potential upside of 9.51% from the company’s previous close.

A number of other research firms also recently issued reports on ENPH. Truist Financial decreased their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Bank of America upped their target price on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. BMO Capital Markets reduced their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Roth Mkm restated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research report on Wednesday, July 24th. Finally, Glj Research assumed coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They set a “sell” rating and a $45.82 target price for the company. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $117.14.

Enphase Energy Stock Up 2.0 %

Shares of ENPH stock opened at $92.23 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The firm has a market capitalization of $12.55 billion, a PE ratio of 48.04, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The stock’s 50-day simple moving average is $110.47 and its 200-day simple moving average is $112.47.

Enphase Energy (NASDAQ:ENPH) 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). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the company posted $0.84 EPS. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. Equities analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Swedbank AB purchased a new position in Enphase Energy in the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. lifted its position in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its stake in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP purchased a new stake in Enphase Energy in the 2nd quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy in the 1st quarter worth $59,128,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.