JPMorgan Chase & Co. Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

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

Several other analysts have also recently weighed in on the stock. TD Cowen decreased their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Northland Securities dropped their price target on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Canaccord Genuity Group reissued a “hold” rating and issued a $76.00 price target on shares of Enphase Energy in a report on Tuesday, November 19th. BMO Capital Markets decreased their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley cut their target price on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $94.09.

Enphase Energy Stock Up 1.8 %

Shares of ENPH stock traded up $1.10 on Thursday, hitting $62.09. The company’s stock had a trading volume of 1,616,991 shares, compared to its average volume of 3,251,408. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 140.76, a P/E/G ratio of 8.02 and a beta of 1.68. Enphase Energy has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The firm’s fifty day moving average price is $69.29 and its 200-day moving average price is $92.19. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Research analysts anticipate that Enphase Energy will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC grew its holdings in shares of Enphase Energy by 6,975.0% in the third 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 in the last quarter. UMB Bank n.a. increased its position in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Enphase Energy during the 3rd quarter valued at $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the 3rd quarter worth about $34,000. Finally, Quarry LP purchased a new position in shares of Enphase Energy in the third quarter worth about $37,000. 72.12% of the stock is owned by hedge funds and other 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.