Enphase Energy (NASDAQ:ENPH) Stock Price Target Cut by JPMorgan Chase & Co.

Enphase Energy (NASDAQ:ENPH) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $40.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.27% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Enphase Energy in a report on Friday, September 18th. Mizuho reduced their price target on shares of Enphase Energy from $54.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley lowered their price target on shares of Enphase Energy from $27.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 14th. The Goldman Sachs Group dropped their price objective on shares of Enphase Energy from $55.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Finally, BMO Capital Markets cut their price objective on Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a research report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $43.52.

Enphase Energy Price Performance

Enphase Energy stock traded up $0.01 during trading hours on Monday, hitting $30.63. The stock had a trading volume of 3,365,207 shares, compared to its average volume of 6,375,001. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 30.63 and a beta of 1.64. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74. The stock’s fifty day moving average is $35.65 and its two-hundred day moving average is $41.39.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%. The firm had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. As a group, analysts predict that Enphase Energy will post 0.66 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the sale, the director directly owned 11,922 shares of the company’s stock, valued at $438,252.72. This trade represents a 14.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Enphase Energy

A number of hedge funds have recently bought and sold shares of the company. Annex Advisory Services LLC acquired a new position in Enphase Energy in the 3rd quarter valued at $495,000. NFSG Corp purchased a new position in shares of Enphase Energy during the 3rd quarter worth $66,000. Mirador Capital Partners LP purchased a new position in shares of Enphase Energy during the 3rd quarter worth $220,000. Green Alpha Advisors LLC boosted its holdings in shares of Enphase Energy by 4.2% during the third quarter. Green Alpha Advisors LLC now owns 16,974 shares of the semiconductor company’s stock worth $560,000 after purchasing an additional 686 shares during the last quarter. Finally, Apella Capital LLC acquired a new stake in shares of Enphase Energy during the third quarter worth $204,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc develops and manufactures energy technology for residential and commercial solar power systems. The company is best known for its microinverters, which convert electricity generated by individual solar panels from direct current into alternating current for use in homes and businesses or delivery to the electric grid.

Its product portfolio also includes battery storage systems, energy management and monitoring software, electric vehicle chargers, and related communications hardware.