Enphase Energy (NASDAQ:ENPH) Receives Hold Rating from Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They presently have a $76.00 price objective on the semiconductor company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 23.86% from the stock’s current price.

A number of other equities analysts have also recently commented on ENPH. Truist Financial cut their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Raymond James cut their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen cut their target price on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $102.09.

Enphase Energy Stock Down 1.7 %

NASDAQ:ENPH traded down $1.04 during mid-day trading on Tuesday, hitting $61.36. 4,264,354 shares of the company’s stock were exchanged, compared to its average volume of 4,059,323. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a one year low of $58.33 and a one year high of $141.63. The company has a market cap of $8.29 billion, a PE ratio of 139.45, a P/E/G ratio of 18.32 and a beta of 1.77. The business has a fifty day moving average price of $94.46 and a 200 day moving average price of $107.46.

Enphase Energy (NASDAQ:ENPH) last released its quarterly 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). The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. Equities analysts predict that Enphase Energy will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENPH. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after acquiring an additional 58,040 shares in the last quarter. Swedbank AB bought a new position in shares of Enphase Energy during the 1st quarter worth about $424,130,000. Geode Capital Management LLC raised its stake in shares of Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Enphase Energy by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after buying an additional 142,491 shares in the last quarter. Finally, Electron Capital Partners LLC grew its position in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.