Enphase Energy (NASDAQ:ENPH) Rating Increased to Mixed at OTR Global

Enphase Energy (NASDAQ:ENPH) was upgraded by stock analysts at OTR Global from a “negative” rating to a “mixed” rating in a research note issued to investors on Friday,Benzinga reports.

Several other equities analysts have also recently weighed in on the stock. Susquehanna cut their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Truist Financial cut their price objective on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Wednesday, October 23rd. Finally, Oppenheimer reduced their price objective on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.33.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $5.33 on Friday, reaching $71.13. The stock had a trading volume of 2,161,022 shares, compared to its average volume of 4,012,095. The business’s 50 day moving average is $76.04 and its two-hundred day moving average is $100.07. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The company has a market cap of $9.61 billion, a P/E ratio of 161.66, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, research analysts anticipate that Enphase Energy will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in Enphase Energy in the 3rd quarter valued at about $1,273,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Enphase Energy in the 3rd quarter valued at about $37,475,000. Mizuho Securities USA LLC grew its holdings in shares of 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 worth $50,737,000 after purchasing an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the period. 72.12% of the stock is currently 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.