TD Cowen Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price dropped by analysts at TD Cowen from $120.00 to $100.00 in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price indicates a potential upside of 57.83% from the company’s previous close.

A number of other brokerages have also recently commented on ENPH. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. BNP Paribas lowered Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research note on Friday, November 8th. Wells Fargo & Company lowered their target price on Enphase Energy from $101.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup boosted their price objective on Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Finally, Craig Hallum decreased their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.43.

Enphase Energy Price Performance

NASDAQ ENPH opened at $63.36 on Monday. The stock 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. Enphase Energy has a 1-year low of $58.33 and a 1-year 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 business’s fifty day moving average price is $69.38 and its 200-day moving average price is $91.53.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the period. UMB Bank n.a. lifted its stake in shares of 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 purchased a new position in Enphase Energy during the 3rd quarter valued at $34,000. Stone House Investment Management LLC purchased a new position in Enphase Energy during the 3rd quarter valued at $34,000. Finally, Quarry LP bought a new position in Enphase Energy in the 3rd quarter valued at $37,000. 72.12% of the stock is currently owned by institutional investors.

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.