Enphase Energy (NASDAQ:ENPH) Lowered to “Hold” Rating by Hsbc Global Res

Enphase Energy (NASDAQ:ENPH) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other analysts have also recently commented on ENPH. BMO Capital Markets dropped their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Oppenheimer dropped their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Barclays dropped their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $154.00 to $81.00 in a research report on Friday. Finally, William Blair began coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $104.03.

Enphase Energy Stock Down 6.6 %

Enphase Energy stock opened at $66.90 on Friday. The stock has a market capitalization of $9.04 billion, a PE ratio of 152.05, a price-to-earnings-growth ratio of 8.40 and a beta of 1.77. Enphase Energy has a 12 month low of $65.66 and a 12 month high of $141.63. The business has a 50 day simple moving average of $100.48 and a 200-day simple moving average of $109.45. 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, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business 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 firm’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, analysts anticipate that Enphase Energy will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin Edwards Inc. raised its holdings in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after purchasing an additional 100 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 102 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after purchasing an additional 106 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in Enphase Energy by 10.2% during the second quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 118 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.