Enphase Energy (NASDAQ:ENPH) Raised to “Buy” at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $82.00 target price on the semiconductor company’s stock, up from their previous target price of $76.00. Canaccord Genuity Group’s target price points to a potential upside of 23.77% from the company’s current price.

ENPH has been the topic of several other research reports. Wells Fargo & Company decreased their price target on Enphase Energy from $101.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Evercore ISI cut their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Susquehanna lowered their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, BNP Paribas downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $93.42.

Enphase Energy Stock Up 3.7 %

Shares of ENPH opened at $66.25 on Wednesday. The company has a market capitalization of $8.95 billion, a P/E ratio of 150.57, a PEG ratio of 8.22 and a beta of 1.68. Enphase Energy has a one year low of $58.33 and a one year high of $141.63. The business’s 50 day simple moving average is $69.02 and its 200-day simple moving average is $89.11. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

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

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC increased its position 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 acquiring an additional 279 shares during the last quarter. UMB Bank n.a. increased its position 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 worth $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at approximately $34,000. Finally, Quarry LP bought a new position in shares of Enphase Energy in the third quarter valued at $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.