Piper Sandler Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price cut by analysts at Piper Sandler from $70.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price objective indicates a potential downside of 0.52% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price objective on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday. Raymond James lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. TD Cowen cut their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Oppenheimer boosted their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target for the company in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.79.

Enphase Energy Price Performance

ENPH stock traded down $0.91 during trading on Wednesday, reaching $65.34. 5,344,820 shares of the company were exchanged, compared to its average volume of 3,743,105. The stock’s 50 day moving average price is $69.02 and its 200 day moving average price is $89.11. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market cap of $8.83 billion, a P/E ratio of 148.68, a PEG ratio of 8.22 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. As a group, analysts predict that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its position 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 worth $32,000 after purchasing an additional 279 shares in the last quarter. UMB Bank n.a. lifted its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new position in Enphase Energy during the 3rd quarter worth $34,000. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy in the third quarter valued at about $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.