Enphase Energy (NASDAQ:ENPH) Cut to “Hold” at HSBC

HSBC cut shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat reports. The firm currently has $81.00 price objective on the semiconductor company’s stock, down from their prior price objective of $154.00.

Other equities research analysts have also issued research reports about the stock. Evercore ISI dropped their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company 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. Raymond James lowered their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $104.03.

Enphase Energy Stock Down 4.8 %

ENPH stock opened at $63.66 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. The firm has a market capitalization of $8.60 billion, a PE ratio of 144.68, a P/E/G ratio of 7.51 and a beta of 1.77. The company’s 50 day simple moving average is $99.33 and its 200-day simple moving average is $109.15. Enphase Energy has a 12 month low of $62.50 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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 company had revenue of $380.90 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. Equities analysts expect that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. grew its position in Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after buying an additional 100 shares during the period. Green Alpha Advisors LLC boosted its holdings in shares of Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after buying an additional 102 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Enphase Energy by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after buying an additional 106 shares during the period. Finally, Centaurus Financial Inc. boosted its holdings in shares of Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.