Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Recommendation of “Hold” from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been assigned an average recommendation of “Hold” from the thirty-three ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $101.13.

Several research firms have recently commented on ENPH. Piper Sandler lowered their price target on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Canaccord Genuity Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a research 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. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a report on Wednesday, October 23rd. Finally, Roth Mkm cut their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $71.35 on Monday. The company has a market cap of $9.64 billion, a P/E ratio of 162.16, a PEG ratio of 21.09 and a beta of 1.77. The business has a 50 day moving average of $86.46 and a two-hundred day moving average of $104.68. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data 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 company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, analysts anticipate that Enphase Energy will post 0.94 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Enphase Energy in the third quarter valued at $1,273,000. Charles Schwab Investment Management Inc. raised its position in 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. Mizuho Securities USA LLC lifted its stake in Enphase Energy by 4,177.9% in the 3rd 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 in the last quarter. Impax Asset Management Group plc boosted its position in Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after acquiring an additional 31,008 shares during the period. Finally, Swedbank AB grew its stake in Enphase Energy by 0.3% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.