Canaccord Genuity Group Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $76.00

Enphase Energy (NASDAQ:ENPH - Free Report) had its price target reduced by Canaccord Genuity Group from $95.00 to $76.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a hold rating on the semiconductor company's stock.

ENPH has been the subject of a number of other research reports. BMO Capital Markets dropped their target price on Enphase Energy from $114.00 to $104.00 and set a "market perform" rating for the company in a report on Monday, October 14th. TD Cowen dropped their price target on shares of Enphase Energy from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. HSBC downgraded Enphase Energy from a "buy" rating to a "hold" rating and reduced their price target for the stock from $154.00 to $81.00 in a research report on Friday. Susquehanna dropped their target price on shares of Enphase Energy from $104.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada cut their target price on Enphase Energy from $100.00 to $85.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $103.39.

Enphase Energy Stock Performance

Enphase Energy stock traded down $3.57 during mid-day trading on Tuesday, hitting $60.09. 8,555,475 shares of the company's stock traded hands, compared to its average volume of 3,989,199. Enphase Energy has a fifty-two week low of $59.37 and a fifty-two week high of $141.63. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 140.27, a P/E/G ratio of 7.51 and a beta of 1.77. The firm has a 50 day simple moving average of $99.33 and a two-hundred day simple moving average of $109.15. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 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 company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the company posted $0.84 EPS. The firm's quarterly revenue was down 30.9% on a year-over-year basis. On average, research analysts expect that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its position in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock worth $32,000 after buying an additional 279 shares in the last quarter. UMB Bank n.a. lifted its holdings in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC purchased a new position in Enphase Energy in the third quarter worth $34,000. Blue Trust Inc. increased its position in shares of Enphase Energy by 109.1% during the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 228 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 461 shares during the period. 72.12% of the stock is 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.