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

Enphase Energy (NASDAQ:ENPH) had its price target decreased by JPMorgan Chase & Co. from $112.00 to $91.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other research reports. Roth Mkm decreased their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Raymond James decreased their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley dropped their target price on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Hsbc Global Res lowered Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, TD Cowen dropped their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $94.09.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $64.29 on Thursday. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 146.11, a price-to-earnings-growth ratio of 8.02 and a beta of 1.68. The business has a 50 day simple moving average of $69.30 and a 200 day simple moving average of $91.99.

Enphase Energy (NASDAQ:ENPH) last released 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). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the company posted $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, equities 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 have recently modified their holdings of ENPH. Envestnet Asset Management Inc. raised its holdings in shares of Enphase Energy by 54.9% during the second quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after acquiring an additional 15,776 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Enphase Energy by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 491,113 shares of the semiconductor company’s stock worth $48,990,000 after purchasing an additional 6,804 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Enphase Energy by 23.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,226 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 795 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Enphase Energy by 8.8% in the 2nd quarter. ProShare Advisors LLC now owns 44,925 shares of the semiconductor company’s stock valued at $4,479,000 after buying an additional 3,626 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Enphase Energy by 68.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,221 shares of the semiconductor company’s stock valued at $521,000 after buying an additional 2,129 shares in the last quarter. 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.