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

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

A number of other research firms have also recently weighed in on ENPH. Barclays reduced their price objective on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Janney Montgomery Scott downgraded 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. Northland Securities cut their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Evercore ISI decreased their target price on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.09.

Enphase Energy Trading Down 1.4 %

Shares of ENPH stock opened at $63.36 on Thursday. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 144.00, a PEG ratio of 7.79 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. The stock has a 50 day simple moving average of $69.38 and a 200-day simple moving average of $91.64.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in ENPH. Green Alpha Advisors LLC raised its position in Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the period. Centaurus Financial Inc. grew its stake in shares of Enphase Energy by 10.2% in the second quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 118 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Enphase Energy by 19.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 125 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Enphase Energy by 3.9% in the 3rd quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 137 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Enphase Energy by 5.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock worth $354,000 after acquiring an additional 153 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.