Enphase Energy (NASDAQ:ENPH) Stock Gets Price Target Trim from Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Morgan Stanley from $27.00 to $24.00 in a report issued on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has an underweight rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Enphase Energy from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Enphase Energy in a research note on Friday, September 18th. Glj Research increased their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the stock a “sell” rating in a research note on Tuesday, July 28th. Susquehanna cut their target price on shares of Enphase Energy from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Sanford C. Bernstein initiated coverage on Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 target price for the company. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $43.52.

Enphase Energy Trading Down 0.6%

Shares of NASDAQ ENPH opened at $30.62 on Wednesday. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $35.65 and its two-hundred day moving average price is $41.35. Enphase Energy has a 52-week low of $25.77 and a 52-week high of $73.74. The stock has a market capitalization of $4.05 billion, a P/E ratio of 30.62 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 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 during the quarter, compared to analyst estimates of $289.76 million. During the same quarter in the previous year, the business posted $0.69 EPS. Enphase Energy’s revenue was down 19.6% compared to the same quarter last year. On average, analysts anticipate that Enphase Energy will post 0.68 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.36, for a total value of $60,540.00. Following the sale, the director owned 10,422 shares in the company, valued at approximately $420,631.92. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Annex Advisory Services LLC bought a new stake in Enphase Energy during the 3rd quarter valued at $495,000. NFSG Corp bought a new position in shares of Enphase Energy in the third quarter worth $66,000. Mirador Capital Partners LP bought a new position in shares of Enphase Energy in the third quarter worth $220,000. Green Alpha Advisors LLC grew its stake in shares of Enphase Energy by 4.2% in 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 in the last quarter. Finally, Apella Capital LLC acquired a new position in shares of Enphase Energy during the third quarter valued at $204,000. 72.12% of the stock is owned by institutional investors.

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.