Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $91.00 at JPMorgan Chase & Co.

Enphase Energy (NASDAQ:ENPH) had its target price decreased by JPMorgan Chase & Co. from $112.00 to $91.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler lowered their price target on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Enphase Energy from a “hold” rating to an “underperform” rating and cut their price target for the company from $93.00 to $61.00 in a report on Thursday, November 7th. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.09.

Enphase Energy Trading Up 5.4 %

Shares of ENPH stock opened at $64.29 on Thursday. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63. The firm’s 50-day simple moving average is $69.30 and its 200-day simple moving average is $91.99. The firm has a market cap of $8.69 billion, a P/E ratio of 146.11, a PEG ratio of 8.02 and a beta of 1.68. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million during the quarter, compared to analyst estimates 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 for the quarter was down 30.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, equities analysts forecast that Enphase Energy will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Enphase Energy by 238.9% in the fourth quarter. Pacer Advisors Inc. now owns 34,514 shares of the semiconductor company’s stock worth $2,370,000 after acquiring an additional 24,331 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $824,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Enphase Energy by 178.4% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,867 shares of the semiconductor company’s stock valued at $266,000 after purchasing an additional 2,478 shares during the period. Exchange Traded Concepts LLC boosted its position in Enphase Energy by 50.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,150 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 1,394 shares during the period. Finally, Inspire Investing LLC grew its stake in Enphase Energy by 2.0% during the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock worth $1,098,000 after buying an additional 318 shares during the last quarter. 72.12% of the stock is 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.