Citigroup Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $99.00

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by investment analysts at Citigroup from $114.00 to $99.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price target indicates a potential upside of 26.16% from the company’s current price.

Several other brokerages have also weighed in on ENPH. Glj Research assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective on the stock. Morgan Stanley increased their target price on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, July 24th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group lowered their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $111.56.

Enphase Energy Stock Down 14.9 %

ENPH stock opened at $78.47 on Tuesday. The company has a 50 day moving average of $109.81 and a two-hundred day moving average of $112.23. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last announced 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). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. On average, equities analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC acquired a new stake in shares of Enphase Energy during the first quarter worth approximately $272,000. Wealthcare Advisory Partners LLC acquired a new stake in Enphase Energy during the 1st quarter valued at $470,000. Bouvel Investment Partners LLC raised its position in Enphase Energy by 2.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock valued at $1,670,000 after purchasing an additional 357 shares during the last quarter. AMF Tjanstepension AB boosted its stake in Enphase Energy by 5.2% in the first quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock worth $19,907,000 after purchasing an additional 8,190 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in shares of Enphase Energy during the first quarter worth $592,000. 72.12% of the stock is owned by institutional investors.

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.