Enphase Energy (NASDAQ:ENPH) Price Target Raised to $72.00 at Citigroup

Enphase Energy (NASDAQ:ENPH) had its target price hoisted by research analysts at Citigroup from $71.00 to $72.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price would suggest a potential downside of 2.05% from the company’s current price.

A number of other research analysts also recently commented on the stock. Janney Montgomery Scott downgraded shares of 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. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Barclays dropped their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BNP Paribas cut Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $99.43.

Enphase Energy Stock Performance

Shares of ENPH opened at $73.51 on Wednesday. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The company’s 50 day simple moving average is $71.39 and its 200 day simple moving average is $94.86. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 167.07, a PEG ratio of 22.03 and a beta of 1.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

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

Institutional Trading of Enphase Energy

A number of hedge funds have recently made changes to their positions in ENPH. Nordea Investment Management AB raised its holdings in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Enphase Energy in the 4th quarter worth about $470,000. GAMMA Investing LLC increased its position in shares of Enphase Energy by 131.9% in the 4th quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company’s stock worth $339,000 after purchasing an additional 2,810 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at about $292,000. Finally, Tidal Investments LLC lifted its position in shares of Enphase Energy by 121.4% during the third quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company’s stock worth $13,893,000 after purchasing an additional 67,411 shares during the last quarter. 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.