Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average rating of “Hold” by the thirty-three brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $100.33.

Several research firms have commented on ENPH. The Goldman Sachs Group dropped their price target on shares of Enphase Energy from $145.00 to $121.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. TD Cowen cut their price target on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Craig Hallum reduced their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Wednesday, October 23rd.

Enphase Energy Price Performance

ENPH opened at $73.28 on Friday. The stock’s 50-day moving average price is $74.51 and its 200 day moving average price is $98.46. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 166.55, a PEG ratio of 22.03 and a beta of 1.69. 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 (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 for the quarter, compared to analyst estimates 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 for the quarter was down 30.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. As a group, sell-side analysts expect that Enphase Energy will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares during 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 acquired a new stake in Enphase Energy during the 2nd quarter valued at $51,582,000. Mizuho Securities USA LLC lifted its holdings in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new stake in shares of Enphase Energy during the 3rd quarter worth about $48,442,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.