Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $66.00 at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its price target reduced by stock analysts at BMO Capital Markets from $69.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price objective points to a potential downside of 3.08% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley decreased their price target on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target on Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Wednesday, October 23rd. Finally, Hsbc Global Res lowered Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.92.

Enphase Energy Stock Up 2.8 %

Shares of Enphase Energy stock traded up $1.84 during trading on Wednesday, reaching $68.09. The company’s stock had a trading volume of 3,536,048 shares, compared to its average volume of 3,637,003. The company has a 50-day simple moving average of $69.02 and a two-hundred day simple moving average of $89.11. 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 $9.20 billion, a price-to-earnings ratio of 154.62, a P/E/G ratio of 8.22 and a beta of 1.68. 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 (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. As a group, equities analysts forecast that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC raised 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 valued at $32,000 after acquiring an additional 279 shares during the last quarter. UMB Bank n.a. raised its stake in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in Enphase Energy in the 3rd quarter valued at $34,000. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy during the third quarter worth $34,000. Finally, Quarry LP acquired a new stake in shares of Enphase Energy in the third quarter valued at about $37,000. 72.12% of the stock is owned by hedge funds and other 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.