Redburn Atlantic Begins Coverage on Enphase Energy (NASDAQ:ENPH)

Redburn Atlantic started coverage on shares of Enphase Energy (NASDAQ:ENPH) in a report published on Monday morning, MarketBeat reports. The brokerage issued a neutral rating on the semiconductor company’s stock.

ENPH has been the topic of a number of other reports. Barclays lowered their price target on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Craig Hallum lowered their target price on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley reduced their price target on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada lowered their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered Enphase Energy from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Stock Down 7.8 %

Enphase Energy stock opened at $52.87 on Monday. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 71.45 and a beta of 1.68. The firm has a 50 day simple moving average of $65.95 and a 200 day simple moving average of $83.31. Enphase Energy has a 1-year low of $52.66 and a 1-year high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, analysts predict that Enphase Energy will post 2.08 earnings per share for the current year.

Institutional Trading of Enphase Energy

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Enphase Energy during the 3rd quarter valued at approximately $1,273,000. Charles Schwab Investment Management Inc. increased its stake in shares of Enphase Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after buying an additional 16,234 shares during the period. Erste Asset Management GmbH bought a new position in shares of Enphase Energy during the third quarter valued at approximately $37,475,000. Mizuho Securities USA LLC lifted its stake in Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after acquiring an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc boosted its holdings in Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after acquiring an additional 31,008 shares in 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.