Enphase Energy (NASDAQ:ENPH) Downgraded by Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

A number of other brokerages have also issued reports on ENPH. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price on the stock. in a research report on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Wednesday, July 24th. Glj Research assumed coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $111.26.

Enphase Energy Trading Up 3.4 %

ENPH stock opened at $83.83 on Wednesday. The business has a fifty day moving average price of $108.44 and a 200 day moving average price of $111.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. Analysts expect that Enphase Energy will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC acquired a new stake in shares of Enphase Energy in the 1st quarter valued at about $272,000. Wealthcare Advisory Partners LLC acquired a new stake in Enphase Energy in the 1st quarter valued at approximately $470,000. Bouvel Investment Partners LLC lifted its stake in Enphase Energy by 2.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock valued at $1,670,000 after acquiring an additional 357 shares in the last quarter. AMF Tjanstepension AB lifted its stake in Enphase Energy by 5.2% in the 1st quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock valued at $19,907,000 after acquiring an additional 8,190 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in Enphase Energy during the 1st quarter worth approximately $592,000. 72.12% of the stock is 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.