Piper Sandler Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $65.00

Enphase Energy (NASDAQ:ENPH) had its price target dropped by Piper Sandler from $70.00 to $65.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price objective points to a potential downside of 0.52% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $82.00 in a research report on Wednesday. Morgan Stanley reduced their price objective on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.79.

Enphase Energy Trading Down 1.4 %

ENPH stock traded down $0.91 during midday trading on Wednesday, reaching $65.34. The company’s stock had a trading volume of 5,344,820 shares, compared to its average volume of 3,743,105. The stock has a market cap of $8.83 billion, a PE ratio of 148.68, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. The business’s 50-day simple moving average is $69.02 and its 200-day simple moving average is $89.11. 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 has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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 net margin of 4.91% and a return on equity of 10.56%. As a group, sell-side analysts expect that Enphase Energy will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Creative Financial Designs Inc. ADV lifted its stake in Enphase Energy by 19.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock worth $87,000 after acquiring an additional 125 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Enphase Energy by 3.9% during the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 137 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Enphase Energy by 5.2% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 153 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Enphase Energy by 19.1% during the third quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 174 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in Enphase Energy by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 54,912 shares of the semiconductor company’s stock valued at $6,206,000 after buying an additional 190 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.