TD Cowen Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $100.00

Enphase Energy (NASDAQ:ENPH) had its target price lowered by investment analysts at TD Cowen from $120.00 to $100.00 in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price points to a potential upside of 57.83% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Morgan Stanley dropped 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. Piper Sandler cut their target price on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company cut their price objective on shares of Enphase Energy from $101.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup upped their target price on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $93.43.

Enphase Energy Stock Down 1.4 %

Shares of NASDAQ ENPH opened at $63.36 on Monday. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 144.00, a PEG ratio of 7.79 and a beta of 1.68. The stock has a 50 day moving average price of $69.38 and a 200 day moving average price of $91.53. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB lifted its holdings in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the period. Mizuho Securities USA LLC lifted its stake in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares during the period. Aspex Management HK Ltd purchased a new stake in Enphase Energy during the third quarter worth $48,442,000. Montrusco Bolton Investments Inc. grew its position in Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after buying an additional 424,327 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 372.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock valued at $31,830,000 after buying an additional 365,356 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.