Enphase Energy’s (ENPH) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $76.00 price objective on the semiconductor company’s stock.

ENPH has been the topic of a number of other research reports. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Raymond James cut their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup lowered their price target on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Oppenheimer lowered their price objective 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. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.09.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $63.59 on Tuesday. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.59 billion, a PE ratio of 144.52, a price-to-earnings-growth ratio of 18.81 and a beta of 1.77. The stock’s fifty day moving average is $91.80 and its two-hundred day moving average is $106.49. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). 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 4.91% and a return on equity of 10.56%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. As a group, analysts expect that Enphase Energy will post 0.91 earnings per share for the current year.

Institutional Trading of Enphase Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares during the last quarter. UMB Bank n.a. grew its stake in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at $34,000. Stone House Investment Management LLC acquired a new stake in Enphase Energy during the third quarter worth approximately $34,000. Finally, Quarry LP acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at about $37,000. 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.