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

Canaccord Genuity Group reiterated their hold rating on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $76.00 price target on the semiconductor company’s stock.

A number of other equities analysts have also commented on the company. BMO Capital Markets lowered their price objective on 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. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial decreased 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. Evercore ISI cut their price target on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Hsbc Global Res cut shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.13.

Enphase Energy Trading Up 4.3 %

Shares of Enphase Energy stock opened at $66.29 on Tuesday. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 150.66, a P/E/G ratio of 18.81 and a beta of 1.77. The business has a fifty day simple moving average of $91.80 and a two-hundred day simple moving average of $106.49. 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 (NASDAQ:ENPH) last posted its 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 during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Research analysts forecast that Enphase Energy will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently modified their holdings of ENPH. Avior Wealth Management LLC lifted its position in Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares during the period. UMB Bank n.a. lifted its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Finally, Quarry LP bought a new position in Enphase Energy during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.