Guggenheim Upgrades Enphase Energy (NASDAQ:ENPH) to “Neutral”

Enphase Energy (NASDAQ:ENPH) was upgraded by investment analysts at Guggenheim from a “sell” rating to a “neutral” rating in a research note issued to investors on Thursday, Briefing.com reports.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial dropped their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday. Bank of America upped their price objective on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $120.00 to $144.00 in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $115.00 price target (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.49.

Enphase Energy Trading Up 1.2 %

NASDAQ:ENPH opened at $93.13 on Thursday. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average price of $111.92 and a two-hundred day moving average price of $113.20. The company has a market cap of $12.67 billion, a P/E ratio of 48.51, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same quarter in the prior year, the company earned $1.16 EPS. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. As a group, analysts expect that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Swedbank AB increased its position in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after purchasing an additional 29,013 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after purchasing an additional 85,284 shares during the period. Doheny Asset Management CA bought a new position in shares of Enphase Energy in the second quarter worth $8,095,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Enphase Energy by 54.9% in the second quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after purchasing an additional 15,776 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.