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

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

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $125.00 to $100.00 in a research note on Tuesday, October 15th. Piper Sandler lowered their price target on Enphase Energy from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Barclays dropped their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. William Blair began coverage on Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Truist Financial dropped their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $119.96.

Enphase Energy Stock Performance

ENPH opened at $92.23 on Wednesday. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a market cap of $12.55 billion, a PE ratio of 48.04, a P/E/G ratio of 5.57 and a beta of 1.72. The business has a fifty day simple moving average of $110.47 and a 200-day simple moving average of $112.47. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

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

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Benjamin Edwards Inc. boosted its position in shares of 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 acquiring an additional 93 shares during the period. Hollencrest Capital Management raised its stake in Enphase Energy by 3.3% during the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings 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 purchasing an additional 100 shares during the period. Green Alpha Advisors LLC grew its position in Enphase Energy by 1.4% in the 3rd 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. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Enphase Energy by 1.9% during the 2nd 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 period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.