Enphase Energy (NASDAQ:ENPH) Rating Lowered to Hold at Hsbc Global Res

Enphase Energy (NASDAQ:ENPH - Get Free Report) was downgraded by stock analysts at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research analysts also recently weighed in on ENPH. Canaccord Genuity Group downgraded Enphase Energy from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. William Blair started coverage on Enphase Energy in a report on Thursday, August 29th. They set a "market perform" rating on the stock. TD Cowen dropped their price target on Enphase Energy from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Bank of America dropped their price target on Enphase Energy from $72.00 to $62.00 and set an "underperform" rating on the stock in a research report on Thursday. Finally, BNP Paribas cut Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 price target on the stock. in a research report on Friday. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $104.03.

Enphase Energy Trading Down 6.6 %

Shares of ENPH traded down $4.69 during trading hours on Friday, hitting $66.90. The company had a trading volume of 11,887,495 shares, compared to its average volume of 5,490,872. Enphase Energy has a 52-week low of $65.66 and a 52-week high of $141.63. The firm has a market cap of $9.04 billion, a P/E ratio of 152.05, a P/E/G ratio of 8.40 and a beta of 1.77. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock's 50 day moving average price is $100.48 and its 200 day moving average price is $109.48.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million for the quarter, compared to analysts' expectations of $392.51 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The firm's revenue for the quarter was down 30.9% on a year-over-year basis. On average, research analysts predict that Enphase Energy will post 0.92 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new position in Enphase Energy in the 3rd quarter worth $1,273,000. Swedbank AB raised its holdings in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock valued at $391,442,000 after acquiring an additional 11,890 shares during the period. Impax Asset Management Group plc raised its holdings in Enphase Energy by 15.9% during 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 during the period. International Assets Investment Management LLC bought a new stake in Enphase Energy during the third quarter valued at about $6,387,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock valued at $10,658,000 after acquiring an additional 29,013 shares during the period. 72.12% of the stock is owned by 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.