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

Guggenheim upgraded shares of Enphase Energy (NASDAQ:ENPH) from a sell rating to a neutral rating in a report published on Friday, Marketbeat reports. Guggenheim currently has $62.00 price target on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. Roth Mkm cut their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Janney Montgomery Scott lowered Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Wednesday, October 23rd. HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $154.00 to $81.00 in a report on Friday, November 8th. Finally, Piper Sandler decreased their target price on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $93.06.

Enphase Energy Stock Up 0.4 %

Shares of ENPH opened at $62.28 on Friday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 141.55, a PEG ratio of 7.94 and a beta of 1.68. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The stock’s 50-day moving average price is $69.27 and its 200-day moving average price is $90.03. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Enphase Energy in the third quarter valued at approximately $1,273,000. Charles Schwab Investment Management Inc. boosted its position in Enphase Energy by 1.9% in the 3rd 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. Erste Asset Management GmbH purchased a new stake in shares of Enphase Energy during the third quarter worth $37,475,000. Mizuho Securities USA LLC raised its stake in shares of Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Enphase Energy by 15.9% in 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 purchasing an additional 31,008 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.