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

Enphase Energy (NASDAQ:ENPH)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity Group in a report issued on Wednesday, StockNewsAPI reports.

A number of other equities research analysts have also commented on ENPH. TD Cowen decreased their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday. Glj Research began coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price target for the company. Susquehanna downgraded Enphase Energy from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $147.00 to $104.00 in a report on Wednesday, October 16th. BMO Capital Markets lowered their target price on 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, Craig Hallum boosted their target price on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $117.14.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $92.23 on Wednesday. The stock has a market capitalization of $12.55 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The firm has a 50 day moving average of $110.47 and a 200-day moving average of $112.47. 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 (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. As a group, sell-side analysts anticipate that Enphase Energy will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the business. Swedbank AB bought a new stake in Enphase Energy during the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its position in shares of Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP bought a new stake in Enphase Energy in the 2nd quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new position in Enphase Energy in the 1st quarter worth $59,128,000. Institutional investors 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.