Enphase Energy (NASDAQ:ENPH) Stock Rating Upgraded by OTR Global

OTR Global upgraded shares of Enphase Energy (NASDAQ:ENPH) from a negative rating to a mixed rating in a research note released on Friday,Benzinga reports.

Several other research analysts have also recently issued reports on the company. Truist Financial cut their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. William Blair initiated coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup dropped their target price on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Morgan Stanley lowered their price target on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Four 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.33.

Enphase Energy Trading Up 8.6 %

Shares of ENPH stock opened at $71.45 on Friday. The company has a market capitalization of $9.65 billion, a P/E ratio of 162.39, a price-to-earnings-growth 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. The business’s 50 day moving average is $76.04 and its two-hundred day moving average is $100.07. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Equities analysts forecast that Enphase Energy will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Electron Capital Partners LLC lifted its position in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy in the 2nd quarter valued at $51,582,000. Mizuho Securities USA LLC increased its stake 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 worth $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Aspex Management HK Ltd acquired a new stake in Enphase Energy during the 3rd quarter worth about $48,442,000. Finally, Montrusco Bolton Investments Inc. raised its holdings in Enphase Energy by 93.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock worth $99,295,000 after buying an additional 424,327 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.