Morgan Stanley Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective dropped by equities research analysts at Morgan Stanley from $93.00 to $74.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 24.33% from the stock’s previous close.

A number of other equities analysts have also commented on ENPH. BMO Capital Markets cut their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Piper Sandler dropped their price target on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $154.00 to $81.00 in a research report on Friday, November 8th. Oppenheimer dropped their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Barclays decreased their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average target price of $102.76.

Enphase Energy Stock Down 6.4 %

NASDAQ:ENPH opened at $59.52 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a one year low of $59.12 and a one year high of $141.63. The firm’s 50 day simple moving average is $95.27 and its 200 day simple moving average is $107.75. The company has a market cap of $8.04 billion, a PE ratio of 135.27, a P/E/G ratio of 6.80 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. On average, research analysts anticipate that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after purchasing an additional 58,040 shares during the last quarter. Swedbank AB purchased a new stake in Enphase Energy during the first quarter worth about $424,130,000. Geode Capital Management LLC raised its position in Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after acquiring an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after acquiring an additional 142,491 shares during the last quarter. Finally, Electron Capital Partners LLC grew its position in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares during the period. 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.