Enphase Energy (NASDAQ:ENPH) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to a buy rating in a report published on Wednesday, MarketBeat reports. They currently have $82.00 price objective on the semiconductor company’s stock, up from their prior price objective of $76.00.

A number of other analysts also recently weighed in on the stock. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Northland Securities cut their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Barclays lowered their price objective on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America reduced their target price on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.79.

Enphase Energy Price Performance

ENPH opened at $65.26 on Wednesday. The company has a fifty day moving average price of $68.88 and a two-hundred day moving average price of $88.95. The firm has a market capitalization of $8.82 billion, a PE ratio of 148.32, a P/E/G ratio of 8.22 and a beta of 1.68. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. As a group, analysts anticipate that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Avior Wealth Management LLC increased its stake in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the last quarter. UMB Bank n.a. increased its position in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC bought a new stake in Enphase Energy in the third quarter valued at approximately $34,000. Stone House Investment Management LLC bought a new stake in Enphase Energy in the third quarter valued at approximately $34,000. Finally, Quarry LP acquired a new stake in shares of Enphase Energy in the third quarter valued at approximately $37,000. 72.12% of the stock is owned by institutional investors.

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.