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

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Canaccord Genuity Group from $95.00 to $76.00 in a research report released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on ENPH. Craig Hallum cut their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Wednesday, October 23rd. Hsbc Global Res cut shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Oppenheimer dropped their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup reduced their target price on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.76.

Enphase Energy Stock Down 6.4 %

Shares of NASDAQ:ENPH opened at $59.52 on Tuesday. The company has a 50 day moving average price of $95.27 and a two-hundred day moving average price of $107.76. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market capitalization of $8.04 billion, a PE ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77. Enphase Energy has a 52 week low of $59.12 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Analysts forecast that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently made changes to their positions in the stock. Swedbank AB acquired a new stake in Enphase Energy during the first quarter worth about $424,130,000. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its stake in Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new position in Enphase Energy during the second quarter valued at approximately $51,582,000. Finally, Canada Pension Plan Investment Board bought a new stake in Enphase Energy during the first quarter worth $59,128,000. 72.12% of the stock is currently owned by 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.