Enphase Energy (NASDAQ:ENPH) Downgraded by HSBC to “Hold”

Enphase Energy (NASDAQ:ENPH) was downgraded by HSBC from a “buy” rating to a “hold” rating in a report released on Friday,Briefing.com Automated Import reports. They presently have a $81.00 price objective on the semiconductor company’s stock. HSBC’s price target points to a potential upside of 13.14% from the company’s previous close.

ENPH has been the topic of several other research reports. TD Cowen dropped their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price target for the company from $93.00 to $61.00 in a research report on Thursday. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research report on Friday. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $104.03.

Enphase Energy Trading Down 4.3 %

Enphase Energy stock opened at $71.59 on Friday. The company has a 50 day moving average price of $101.56 and a 200 day moving average price of $109.78. Enphase Energy has a 52 week low of $71.38 and a 52 week high of $141.63. 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 firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 162.70, a P/E/G ratio of 9.82 and a beta of 1.77.

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

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its stake in Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after buying an additional 58,040 shares during the last quarter. Swedbank AB acquired a new stake in Enphase Energy in the 1st quarter valued at $424,130,000. Electron Capital Partners LLC increased its stake in Enphase Energy by 1,021.4% in 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 buying an additional 1,078,154 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Enphase Energy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after buying an additional 123,856 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Enphase Energy by 71.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 714,364 shares of the semiconductor company’s stock valued at $80,737,000 after buying an additional 296,498 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.