Enphase Energy (NASDAQ:ENPH) Rating Lowered to Hold at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts have also weighed in on ENPH. Canaccord Genuity Group cut their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Piper Sandler cut their target price on Enphase Energy from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised 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. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Finally, Bank of America lifted their price target on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $111.26.

Enphase Energy Price Performance

ENPH stock opened at $81.10 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The firm has a market capitalization of $11.03 billion, a P/E ratio of 42.24, a P/E/G ratio of 5.57 and a beta of 1.72. The business’s 50-day moving average is $109.09 and its two-hundred day moving average is $112.01. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period last year, the business posted $0.84 EPS. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. Analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC boosted its stake in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares in the last quarter. Chilton Capital Management LLC grew its holdings in Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. grew its holdings in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy in the third quarter valued at $34,000. Finally, Quest Partners LLC grew its holdings in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other 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.