Enphase Energy (NASDAQ:ENPH) Given “Hold” Rating at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH)‘s stock had its “hold” rating reissued by Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They presently have a $76.00 target price on the semiconductor company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 23.86% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Raymond James dropped their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Enphase Energy from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $93.00 to $61.00 in a report on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Craig Hallum decreased their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Truist Financial lowered their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Price Performance

ENPH traded down $1.04 during trading on Tuesday, reaching $61.36. 4,264,354 shares of the company were exchanged, compared to its average volume of 4,059,323. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. 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 company has a market cap of $8.29 billion, a price-to-earnings ratio of 139.45, a P/E/G ratio of 18.32 and a beta of 1.77. The company’s 50-day moving average is $94.46 and its two-hundred day moving average is $107.46.

Enphase Energy (NASDAQ:ENPH) last released its earnings results 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 the consensus estimate of $392.51 million. During the same period in the prior year, the company earned $0.84 EPS. The firm’s revenue was down 30.9% compared to the same quarter last year. Research analysts forecast that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC raised its stake in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 279 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at about $34,000. Stone House Investment Management LLC acquired a new position in Enphase Energy during the third quarter worth $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy in the third quarter valued at about $37,000. 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.