Canaccord Genuity Group Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Canaccord Genuity Group from $95.00 to $76.00 in a report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research note on Wednesday, October 23rd. Evercore ISI dropped their price target on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup decreased their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Bank of America decreased their price objective on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $102.76.

Enphase Energy Trading Down 1.7 %

Enphase Energy stock traded down $1.07 during trading on Tuesday, hitting $62.49. The company had a trading volume of 2,355,155 shares, compared to its average volume of 4,021,903. Enphase Energy has a 1-year low of $59.12 and a 1-year high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The company’s 50 day simple moving average is $96.25 and its 200-day simple moving average is $108.14. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 144.45, a price-to-earnings-growth ratio of 6.80 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the business posted $0.84 EPS. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. As a group, analysts expect that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of ENPH. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter valued at about $424,130,000. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP purchased a new stake in shares of Enphase Energy in the second quarter valued at about $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Enphase Energy in the first quarter valued at about $59,128,000. Hedge funds and other 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.