Enphase Energy’s (ENPH) “Hold” Rating Reiterated at Truist Financial

Enphase Energy (NASDAQ:ENPH)‘s stock had its “hold” rating reaffirmed by analysts at Truist Financial in a research report issued on Thursday,Benzinga reports. They presently have a $65.00 price objective on the semiconductor company’s stock, down from their prior price objective of $100.00. Truist Financial’s target price would suggest a potential downside of 1.26% from the stock’s previous close.

ENPH has been the subject of several other reports. Canaccord Genuity Group reissued a “hold” rating and set a $76.00 price target on shares of Enphase Energy in a research report on Tuesday, November 19th. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Roth Mkm cut their price target on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $154.00 to $81.00 in a report on Friday, November 8th. Finally, Susquehanna lowered their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.59.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $65.83 on Thursday. The firm has a 50 day moving average of $69.45 and a 200 day moving average of $93.40. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 149.61, a price-to-earnings-growth ratio of 21.92 and a beta of 1.68. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was down 30.9% on a year-over-year basis. On average, sell-side analysts predict that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Enphase Energy in the second quarter worth about $431,000. Quest Partners LLC increased its stake in shares of Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Enphase Energy by 54.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after purchasing an additional 15,776 shares during the period. Dimensional Fund Advisors LP boosted its position in Enphase Energy by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 491,113 shares of the semiconductor company’s stock worth $48,990,000 after purchasing an additional 6,804 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Enphase Energy by 5.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,498 shares of the semiconductor company’s stock valued at $349,000 after purchasing an additional 176 shares during the period. 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.