Enphase Energy (NASDAQ:ENPH) Downgraded by Guggenheim to Sell

Guggenheim cut shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to a sell rating in a research report released on Wednesday, MarketBeat Ratings reports. They currently have $73.00 price target on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on ENPH. Morgan Stanley raised their price target on Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Susquehanna lowered shares of Enphase Energy from a “positive” rating to a “neutral” rating and lowered their target price for the company from $147.00 to $104.00 in a research note on Wednesday, October 16th. Canaccord Genuity Group reduced their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $120.00 to $144.00 in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $125.00 to $100.00 in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Trading Up 3.4 %

Shares of ENPH opened at $83.83 on Wednesday. The company’s fifty day simple moving average is $108.44 and its 200-day simple moving average is $111.72. The company has a market cap of $11.35 billion, a P/E ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data 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). Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, analysts expect that Enphase Energy will post 1.18 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of ENPH. abrdn plc raised its position in Enphase Energy by 37.0% during the third quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock valued at $64,749,000 after acquiring an additional 154,231 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Enphase Energy by 6.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock valued at $1,777,000 after purchasing an additional 975 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in shares of Enphase Energy by 2.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 178,814 shares of the semiconductor company’s stock valued at $20,210,000 after purchasing an additional 3,447 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Enphase Energy by 19.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock worth $804,000 after buying an additional 1,156 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Enphase Energy by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock valued at $11,484,000 after buying an additional 18,960 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.