Citigroup Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $99.00

Enphase Energy (NASDAQ:ENPH) had its target price reduced by equities research analysts at Citigroup from $114.00 to $99.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price suggests a potential upside of 8.72% from the stock’s previous close.

ENPH has been the topic of several other research reports. Royal Bank of Canada cut Enphase Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $125.00 to $100.00 in a report on Tuesday, October 15th. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Piper Sandler dropped their price objective on shares of Enphase Energy from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating in a research note on Thursday, October 17th. Finally, Susquehanna downgraded Enphase Energy from a “positive” rating to a “neutral” rating and dropped their price target for the company from $147.00 to $104.00 in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $121.51.

Enphase Energy Trading Up 0.7 %

Shares of NASDAQ:ENPH traded up $0.64 during midday trading on Tuesday, hitting $91.06. The company had a trading volume of 1,945,531 shares, compared to its average volume of 3,704,442. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The firm has a fifty day simple moving average of $110.87 and a 200 day simple moving average of $112.61. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was down 57.3% compared to the same quarter last year. On average, analysts predict that Enphase Energy will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB boosted its holdings in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Enphase Energy by 364.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after buying an additional 85,284 shares during the period. Doheny Asset Management CA acquired a new stake in shares of Enphase Energy during the second quarter worth $8,095,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Enphase Energy by 54.9% in the second quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after acquiring an additional 15,776 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.