Enphase Energy (NASDAQ:ENPH) Lowered to “Sell” at Guggenheim

Guggenheim downgraded shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to a sell rating in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have $73.00 target price on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Glj Research began coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 target price on the stock. Finally, Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.56.

Enphase Energy Price Performance

ENPH opened at $78.47 on Wednesday. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a 50 day moving average of $109.81 and a two-hundred day moving average of $112.23. The company has a market cap of $10.68 billion, a P/E ratio of 40.87, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. On average, analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Large investors have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC purchased a new stake in Enphase Energy during the first quarter valued at about $272,000. Wealthcare Advisory Partners LLC purchased a new stake in Enphase Energy during the first quarter valued at about $470,000. Bouvel Investment Partners LLC lifted its stake in Enphase Energy by 2.7% during the first quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock valued at $1,670,000 after buying an additional 357 shares in the last quarter. AMF Tjanstepension AB lifted its stake in Enphase Energy by 5.2% during the first quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock valued at $19,907,000 after buying an additional 8,190 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new stake in Enphase Energy during the first quarter valued at about $592,000. Institutional investors own 72.12% of the company’s stock.

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.