Enphase Energy, Inc. (NASDAQ:ENPH) Given Consensus Recommendation of “Hold” by Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average recommendation of “Hold” by the thirty-two ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $97.86.

ENPH has been the topic of several recent analyst reports. Barclays dropped their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Craig Hallum cut their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial decreased their price target on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, TD Cowen cut their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd.

Enphase Energy Stock Up 0.2 %

Shares of NASDAQ ENPH opened at $66.87 on Tuesday. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a market cap of $9.03 billion, a PE ratio of 151.98, a P/E/G ratio of 21.92 and a beta of 1.68. The company’s fifty day simple moving average is $70.53 and its 200 day simple moving average is $94.11. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced 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). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period last year, the business posted $0.84 EPS. The company’s revenue was down 30.9% on a year-over-year basis. As a group, sell-side analysts forecast that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB boosted its position in shares of Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. Electron Capital Partners LLC boosted its holdings 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 valued at $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP bought a new position in shares of Enphase Energy in the 2nd quarter worth about $51,582,000. Mizuho Securities USA LLC lifted its position in Enphase Energy by 4,177.9% during the 3rd 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 during the period. Finally, Aspex Management HK Ltd bought a new stake in Enphase Energy during the third quarter worth about $48,442,000. 72.12% of the stock is owned by hedge funds and other 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.