Northland Securities Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $90.00

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Northland Securities from $110.00 to $90.00 in a report issued on Tuesday,Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on ENPH. Janney Montgomery Scott cut 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. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Barclays cut their price target on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada decreased their price target on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Trading Up 0.3 %

Shares of Enphase Energy stock opened at $63.59 on Tuesday. The company has a market capitalization of $8.59 billion, a P/E ratio of 144.52, a price-to-earnings-growth ratio of 18.81 and a beta of 1.77. The stock has a fifty day simple moving average of $91.80 and a 200 day simple moving average of $106.49. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. On average, sell-side analysts anticipate that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake in Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 279 shares in the last quarter. UMB Bank n.a. boosted its position in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC bought a new stake in Enphase Energy during the third quarter valued at approximately $34,000. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy in the 3rd quarter worth $34,000. Finally, Quarry LP purchased a new stake in Enphase Energy in the third quarter worth about $37,000. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.