JPMorgan Chase & Co. Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $91.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $112.00 to $91.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 46.56% from the company’s current price.

Several other equities analysts have also recently issued reports on ENPH. Raymond James reduced their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. BNP Paribas cut shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a report on Friday, November 8th. TD Cowen reduced their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Roth Mkm decreased their price objective on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $94.09.

Enphase Energy Trading Up 1.8 %

Enphase Energy stock traded up $1.10 during trading hours on Thursday, reaching $62.09. The stock had a trading volume of 1,616,991 shares, compared to its average volume of 3,251,408. The company has a fifty day simple moving average of $69.29 and a 200-day simple moving average of $92.19. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The stock has a market cap of $8.39 billion, a PE ratio of 140.76, a PEG ratio of 8.02 and a beta of 1.68. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. Analysts forecast that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC raised its position 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. increased its holdings in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the period. nVerses Capital LLC purchased a new stake in Enphase Energy during the third quarter worth $34,000. Stone House Investment Management LLC purchased a new position in Enphase Energy in the third quarter valued at about $34,000. Finally, Quarry LP purchased a new position in shares of Enphase Energy in the 3rd quarter worth approximately $37,000. Institutional investors 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.