Wells Fargo & Company Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target lowered by stock analysts at Wells Fargo & Company from $101.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 19.15% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Barclays cut their price target on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their price objective on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Bank of America reduced their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. TD Cowen lowered their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.86.

Enphase Energy Trading Down 5.2 %

NASDAQ:ENPH opened at $69.66 on Wednesday. The company has a market capitalization of $9.41 billion, a P/E ratio of 158.32, a PEG ratio of 21.92 and a beta of 1.69. 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 has a 12 month low of $58.33 and a 12 month high of $141.63. The firm has a fifty day simple moving average of $70.87 and a 200-day simple moving average of $94.51.

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 firm 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%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, equities research analysts anticipate that Enphase Energy will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC boosted 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 worth $32,000 after acquiring an additional 279 shares during the period. UMB Bank n.a. lifted its position in shares of 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 in the last quarter. nVerses Capital LLC acquired a new stake in shares of Enphase Energy during the third quarter worth approximately $34,000. Stone House Investment Management LLC purchased a new position in Enphase Energy during the third quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in Enphase Energy in the 3rd quarter valued at approximately $37,000. Hedge funds and other 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.