Canaccord Genuity Group Lowers Enphase Energy (NASDAQ:ENPH) to Hold

Enphase Energy (NASDAQ:ENPH - Get Free Report) was downgraded by Canaccord Genuity Group from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, Briefing.com reports.

ENPH has been the topic of several other research reports. Citigroup dropped their price target on Enphase Energy from $114.00 to $99.00 and set a "neutral" rating on the stock in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Piper Sandler lowered their price objective on shares of Enphase Energy from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. Roth Mkm reiterated a "buy" rating and set a $140.00 price objective on shares of Enphase Energy in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 16th. Four 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $115.35.

Enphase Energy Stock Performance

ENPH opened at $76.06 on Wednesday. The business's 50 day moving average is $110.47 and its 200-day moving average is $112.47. The stock has a market cap of $10.35 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. 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 has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS 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 firm had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the firm earned $0.84 EPS. Enphase Energy's revenue for the quarter was down 30.9% on a year-over-year basis. On average, analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in Enphase Energy in the third quarter valued at about $6,387,000. Eastern Bank bought a new stake in Enphase Energy in the third quarter valued at about $1,065,000. Signaturefd LLC increased its stake in Enphase Energy by 29.7% in the third quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company's stock valued at $140,000 after acquiring an additional 284 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Enphase Energy in the third quarter valued at about $243,000. Finally, Jade Capital Advisors LLC increased its stake in Enphase Energy by 66.7% in the third quarter. Jade Capital Advisors LLC now owns 5,000 shares of the semiconductor company's stock valued at $565,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 72.12% of the company's stock.

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.