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

Enphase Energy, Inc. (NASDAQ:ENPH) has received an average recommendation of “Hold” from the thirty-two ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $111.26.

ENPH has been the subject of a number of research reports. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Northland Securities dropped their target price on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna decreased their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. Allspring Global Investments Holdings LLC increased its holdings in Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after buying an additional 85,284 shares during the period. Norden Group LLC purchased a new position in shares of Enphase Energy during the 1st quarter valued at about $209,000. First Trust Direct Indexing L.P. grew its holdings in Enphase Energy by 39.3% during the first quarter. First Trust Direct Indexing L.P. now owns 3,344 shares of the semiconductor company’s stock worth $405,000 after acquiring an additional 944 shares during the period. Private Advisor Group LLC grew its stake in shares of Enphase Energy by 9.2% during the 1st quarter. Private Advisor Group LLC now owns 15,864 shares of the semiconductor company’s stock worth $1,919,000 after purchasing an additional 1,332 shares during the period. Finally, Wambolt & Associates LLC boosted its holdings in Enphase Energy by 5.5% during the first quarter. Wambolt & Associates LLC now owns 6,659 shares of the semiconductor company’s stock worth $788,000 after buying an additional 347 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Enphase Energy stock opened at $74.81 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 170.02, a PEG ratio of 9.38 and a beta of 1.77. The stock’s 50 day moving average price is $102.56 and its two-hundred day moving average price is $110.05. Enphase Energy has a 52-week low of $71.38 and a 52-week high of $141.63.

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

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.