Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have earned a consensus recommendation of “Hold” from the thirty-two ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $111.26.

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group restated a “hold” rating and set a $95.00 price objective (down from $140.00) on shares of Enphase Energy in a research report on Wednesday, October 23rd. Craig Hallum reduced their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Piper Sandler lowered their price objective on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. William Blair began coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Bank of America raised their price target on shares of Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Allspring Global Investments Holdings LLC grew its position in Enphase Energy by 364.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after acquiring an additional 85,284 shares during the last quarter. Norden Group LLC bought a new stake in shares of Enphase Energy during the first quarter worth about $209,000. First Trust Direct Indexing L.P. increased its stake in shares of Enphase Energy by 39.3% in the first quarter. First Trust Direct Indexing L.P. now owns 3,344 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 944 shares during the period. Private Advisor Group LLC raised its holdings in Enphase Energy by 9.2% in the 1st quarter. Private Advisor Group LLC now owns 15,864 shares of the semiconductor company’s stock valued at $1,919,000 after buying an additional 1,332 shares during the last quarter. Finally, Wambolt & Associates LLC boosted its position in Enphase Energy by 5.5% during the 1st quarter. Wambolt & Associates LLC now owns 6,659 shares of the semiconductor company’s stock worth $788,000 after buying an additional 347 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Down 0.7 %

ENPH stock opened at $82.47 on Thursday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The business’s 50 day simple moving average is $107.06 and its 200 day simple moving average is $111.17. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $11.22 billion, a PE ratio of 42.95, a PEG ratio of 8.07 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company 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%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts anticipate that Enphase Energy will post 1.18 EPS for the current year.

Enphase Energy Company Profile

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.