Fintel reports that on June 22, 2023, OTR Global downgraded their outlook for Enphase Energy (NASDAQ:ENPH) from Mixed to Negative.
Analyst Price Forecast Suggests 56.27% Upside
As of June 1, 2023, the average one-year price target for Enphase Energy is 262.52. The forecasts range from a low of 170.69 to a high of $358.05. The average price target represents an increase of 56.27% from its latest reported closing price of 167.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enphase Energy is 3,242MM, an increase of 23.95%. The projected annual non-GAAP EPS is 5.41.
What is the Fund Sentiment?
There are 1888 funds or institutions reporting positions in Enphase Energy. This is a decrease of 2 owner(s) or 0.11% in the last quarter. Average portfolio weight of all funds dedicated to ENPH is 0.40%, a decrease of 22.70%. Total shares owned by institutions decreased in the last three months by 3.65% to 110,713K shares. The put/call ratio of ENPH is 0.94, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,224K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 4,132K shares, representing an increase of 2.16%. The firm decreased its portfolio allocation in ENPH by 25.10% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 3,188K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 3,164K shares, representing an increase of 0.76%. The firm decreased its portfolio allocation in ENPH by 22.59% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 3,172K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 3,142K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in ENPH by 25.71% over the last quarter.
Geode Capital Management holds 2,897K shares representing 2.11% ownership of the company. In it’s prior filing, the firm reported owning 2,846K shares, representing an increase of 1.76%. The firm decreased its portfolio allocation in ENPH by 25.28% over the last quarter.
Invesco holds 2,377K shares representing 1.73% ownership of the company. In it’s prior filing, the firm reported owning 2,633K shares, representing a decrease of 10.75%. The firm decreased its portfolio allocation in ENPH by 93.68% over the last quarter.
Enphase Energy Background Information
(This description is provided by the company.)
Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that manage solar generation, storage and communication on one intelligent platform. The Company revolutionized the solar industry with its microinverter technology and produces a fully integrated solar-plus-storage solution. Enphase has shipped more than 32 million microinverters, and approximately 1.4 million Enphase-based systems have been deployed in more than 130 countries.
Key filings for this company:
This article originally appeared on Fintel
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