Enphase Energy (NASDAQ:ENPH) Downgraded by BNP Paribas to Neutral

BNP Paribas lowered shares of Enphase Energy (NASDAQ:ENPH) from an outperform rating to a neutral rating in a research report released on Friday morning, Marketbeat reports. The brokerage currently has $88.00 price objective on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. Bank of America lowered their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research report on Thursday. Morgan Stanley cut their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Canaccord Genuity Group reissued a “hold” rating and issued a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a research note on Wednesday, October 23rd. Northland Securities cut their target price on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler decreased their price target on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $104.03.

Enphase Energy Price Performance

Enphase Energy stock traded down $4.69 during mid-day trading on Friday, reaching $66.90. 11,887,495 shares of the company’s stock traded hands, compared to its average volume of 5,490,872. Enphase Energy has a 12-month low of $65.66 and a 12-month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $100.48 and a two-hundred day moving average of $109.48. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 152.05, a PEG ratio of 8.40 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. Equities analysts forecast that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENPH. Chilton Capital Management LLC lifted its position in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the period. UMB Bank n.a. boosted its position in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in Enphase Energy during the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC lifted its stake in Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 461 shares during the period. 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.