Guggenheim Lowers Enphase Energy (NASDAQ:ENPH) to Sell

Guggenheim downgraded shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to a sell rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $73.00 price target on the semiconductor company’s stock.

Several other analysts have also recently issued reports on ENPH. JPMorgan Chase & Co. upped their target price on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Craig Hallum raised their price objective on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of Enphase Energy from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Canaccord Genuity Group cut their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Citigroup decreased their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $83.83 on Wednesday. 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’s 50 day simple moving average is $108.44 and its 200-day simple moving average is $111.72. The company has a market cap of $11.35 billion, a PE ratio of 190.52, a price-to-earnings-growth ratio of 8.07 and a beta of 1.72. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released 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 analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. As a group, equities research analysts anticipate that Enphase Energy will post 1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. Benjamin Edwards Inc. increased its stake in Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the period. Hollencrest Capital Management increased its position in Enphase Energy by 3.3% in the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund increased its position in Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 100 shares during the period. Green Alpha Advisors LLC lifted its position in Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 102 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 106 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other 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.