Enphase Energy (NASDAQ:ENPH) Given New $114.00 Price Target at Barclays

by · The Cerbat Gem

Enphase Energy (NASDAQ:ENPH – Get Free Report) had its price target cut by equities research analysts at Barclays from $129.00 to $114.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price points to a potential upside of 46.64% from the company’s current price.

Several other analysts also recently issued reports on the company. Truist Financial cut their price target on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Bank of America lifted their target price on Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler cut their target price on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Roth Mkm cut their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Raymond James cut their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.06.

Read Our Latest Report on ENPH

Enphase Energy Stock Performance

NASDAQ:ENPH traded down $14.49 during trading hours on Wednesday, reaching $77.74. 16,739,120 shares of the stock were exchanged, compared to its average volume of 3,791,529. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a 50 day simple moving average of $110.47 and a 200-day simple moving average of $112.47. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The stock has a market capitalization of $10.58 billion, a P/E ratio of 40.76, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. As a group, sell-side analysts forecast that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in ENPH. Manchester Capital Management LLC increased its stake in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC increased its stake in Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. UMB Bank n.a. grew its stake in shares of Enphase Energy by 784.8% in 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 period. nVerses Capital LLC bought a new stake in shares of Enphase Energy in the 3rd quarter valued at approximately $34,000. Finally, Quest Partners LLC grew its stake in shares of Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Company Profile

(Get Free Report)

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.

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