Enphase Energy (NASDAQ:ENPH) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Enphase Energy (NASDAQ:ENPH) from a sell rating to a hold rating in a research note released on Thursday morning.

Other equities research analysts have also recently issued reports about the stock. Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Wednesday, October 23rd. Citigroup cut their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Piper Sandler decreased their price target on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Price Performance

Shares of ENPH stock opened at $83.83 on Thursday. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 8.07 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The stock’s 50-day simple moving average is $108.44 and its 200-day simple moving average is $111.67.

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 the consensus estimate of $0.77 by ($0.12). The company had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. As a group, equities analysts forecast that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of the stock. abrdn plc grew its holdings in shares of Enphase Energy by 37.0% during the third quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock worth $64,749,000 after purchasing an additional 154,231 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Enphase Energy by 6.6% during the third quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock valued at $1,777,000 after acquiring an additional 975 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in Enphase Energy by 2.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 178,814 shares of the semiconductor company’s stock valued at $20,210,000 after purchasing an additional 3,447 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Enphase Energy by 19.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock worth $804,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Enphase Energy by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock worth $11,484,000 after purchasing an additional 18,960 shares during the last quarter. 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.