Fintel reports that on September 12, 2023, Truist Securities downgraded their outlook for Enphase Energy (NASDAQ:ENPH) from Buy to Hold.
Analyst Price Forecast Suggests 72.72% Upside
As of August 31, 2023, the average one-year price target for Enphase Energy is 211.05. The forecasts range from a low of 136.35 to a high of $352.75. The average price target represents an increase of 72.72% from its latest reported closing price of 122.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enphase Energy is 3,242MM, an increase of 15.93%. The projected annual non-GAAP EPS is 5.41.
What is the Fund Sentiment?
There are 1656 funds or institutions reporting positions in Enphase Energy. This is a decrease of 167 owner(s) or 9.16% in the last quarter. Average portfolio weight of all funds dedicated to ENPH is 0.30%, a decrease of 19.48%. Total shares owned by institutions decreased in the last three months by 6.21% to 103,841K shares. The put/call ratio of ENPH is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,286K shares representing 3.15% ownership of the company. In it’s prior filing, the firm reported owning 4,224K shares, representing an increase of 1.46%. The firm decreased its portfolio allocation in ENPH by 25.43% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 3,263K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 3,172K shares, representing an increase of 2.80%. The firm decreased its portfolio allocation in ENPH by 25.78% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 3,176K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 3,188K shares, representing a decrease of 0.37%. The firm decreased its portfolio allocation in ENPH by 23.82% over the last quarter.
Geode Capital Management holds 2,999K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 2,897K shares, representing an increase of 3.40%. The firm decreased its portfolio allocation in ENPH by 25.41% over the last quarter.
Invesco holds 2,689K shares representing 1.98% ownership of the company. In it’s prior filing, the firm reported owning 2,377K shares, representing an increase of 11.58%. The firm increased its portfolio allocation in ENPH by 814.53% 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.
This article originally appeared on Fintel
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