Truist Financial Reaffirms Hold Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH)‘s stock had its “hold” rating reissued by equities research analysts at Truist Financial in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $65.00 price target on the semiconductor company’s stock, down from their previous price target of $100.00. Truist Financial’s price objective points to a potential upside of 2.06% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Raymond James decreased their price objective on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Canaccord Genuity Group restated a “hold” rating and set a $76.00 price target on shares of Enphase Energy in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $95.59.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $63.69 on Thursday. The business’s 50-day moving average is $69.22 and its 200 day moving average is $92.96. Enphase Energy has a 12 month low of $58.33 and a 12 month high of $141.63. The company has a market capitalization of $8.61 billion, a P/E ratio of 144.75, a P/E/G ratio of 7.87 and a beta of 1.68. 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 (NASDAQ:ENPH) last issued 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 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue was down 30.9% on a year-over-year basis. On average, equities research analysts forecast that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. Avior Wealth Management LLC increased its holdings in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares during the period. UMB Bank n.a. raised its holdings in 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 bought a new position in Enphase Energy in the third quarter worth about $34,000. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy during the third quarter valued at about $34,000. Finally, Quarry LP bought a new stake in shares of Enphase Energy in the 3rd quarter valued at about $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.