Enphase Energy (NASDAQ:ENPH) Stock Rating Lowered by BNP Paribas

Enphase Energy (NASDAQ:ENPH) was downgraded by BNP Paribas from an “outperform” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. They presently have a $88.00 target price on the semiconductor company’s stock. BNP Paribas’ price target suggests a potential upside of 22.92% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Oppenheimer dropped their target price on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup lowered their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Truist Financial lowered their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Canaccord Genuity Group reiterated a “hold” rating and issued a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a research report on Wednesday, October 23rd. Finally, Piper Sandler lowered their price objective on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $104.03.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $71.59 on Friday. The business has a 50 day moving average of $101.56 and a 200 day moving average of $109.78. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 162.70, a PEG ratio of 9.82 and a beta of 1.77. Enphase Energy has a 1-year low of $71.38 and a 1-year high of $141.63. 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 released 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 during 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 quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, sell-side analysts predict that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norden Group LLC bought a new position in Enphase Energy in the first quarter valued at about $209,000. Texas Permanent School Fund Corp lifted its holdings in Enphase Energy by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 28,065 shares of the semiconductor company’s stock valued at $3,395,000 after acquiring an additional 452 shares during the period. Empirical Finance LLC raised its stake in shares of Enphase Energy by 4.6% in the first quarter. Empirical Finance LLC now owns 3,787 shares of the semiconductor company’s stock worth $458,000 after buying an additional 166 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Enphase Energy by 11.5% in the first quarter. Oppenheimer & Co. Inc. now owns 20,959 shares of the semiconductor company’s stock worth $2,536,000 after buying an additional 2,164 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of Enphase Energy by 35.8% in the first quarter. Forsta AP Fonden now owns 50,400 shares of the semiconductor company’s stock worth $6,097,000 after buying an additional 13,300 shares during the period. 72.12% of the stock is owned by institutional investors.

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.