Janney Montgomery Scott Lowers Enphase Energy (NASDAQ:ENPH) to Neutral

Enphase Energy (NASDAQ:ENPH) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Briefing.com reports.

Several other brokerages have also commented on ENPH. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Barclays reduced their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Susquehanna cut shares of Enphase Energy from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $147.00 to $104.00 in a research report on Wednesday, October 16th. Bank of America lifted their price target on shares of Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, Piper Sandler decreased their price objective on shares of Enphase Energy from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $119.96.

Enphase Energy Stock Up 2.0 %

Shares of ENPH stock opened at $92.23 on Wednesday. Enphase Energy has a one year low of $73.49 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The stock has a fifty day moving average price of $110.47 and a 200 day moving average price of $112.47. The stock has a market cap of $12.55 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.13). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. Analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ENPH. Swedbank AB acquired a new stake in Enphase Energy during the 1st quarter worth $424,130,000. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC lifted its holdings 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 purchasing an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy in the 2nd quarter valued at approximately $51,582,000. Finally, Canada Pension Plan Investment Board bought a new stake in Enphase Energy during the 1st quarter worth approximately $59,128,000. 72.12% of the stock is owned by institutional investors.

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.