Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $30.00 at Bank of America

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective decreased by stock analysts at Bank of America from $31.00 to $30.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "underperform" rating on the semiconductor company's stock. Bank of America's price target points to a potential downside of 15.28% from the stock's previous close.

A number of other research firms also recently issued reports on ENPH. Wells Fargo & Company cut their price objective on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, June 20th. Morgan Stanley downgraded shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a report on Wednesday, April 23rd. Mizuho cut their price objective on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a report on Monday, July 14th. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective for the company. in a report on Tuesday, May 13th. Finally, Susquehanna cut their price objective on shares of Enphase Energy from $51.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, July 21st. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Enphase Energy has an average rating of "Hold" and a consensus price target of $55.86.

Enphase Energy Stock Performance

Shares of ENPH stock traded down $0.10 during midday trading on Wednesday, hitting $35.41. 9,309,058 shares of the company were exchanged, compared to its average volume of 9,247,196. The firm has a market capitalization of $4.63 billion, a P/E ratio of 27.66 and a beta of 1.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.77 and a current ratio of 1.97. The firm's 50 day moving average price is $40.95 and its two-hundred day moving average price is $52.20. Enphase Energy has a 52 week low of $33.01 and a 52 week high of $130.08.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $363.15 million for the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. As a group, equities research analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Woodline Partners LP acquired a new stake in shares of Enphase Energy during the fourth quarter worth $557,000. Teacher Retirement System of Texas acquired a new position in shares of Enphase Energy during the first quarter valued at about $1,609,000. QRG Capital Management Inc. purchased a new position in Enphase Energy during the first quarter worth about $512,000. Bouvel Investment Partners LLC purchased a new position in Enphase Energy during the first quarter worth about $847,000. Finally, Norges Bank bought a new stake in Enphase Energy in the fourth quarter worth about $46,339,000. 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.