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

HSBC downgraded shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research note published on Friday, Marketbeat.com reports. HSBC currently has $81.00 price target on the semiconductor company’s stock, down from their prior price target of $154.00.

A number of other research firms have also recently weighed in on ENPH. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a report on Wednesday, October 23rd. Piper Sandler cut their target price on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial cut their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Susquehanna cut their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.03.

Enphase Energy Stock Down 6.6 %

ENPH traded down $4.69 during trading on Friday, hitting $66.90. The stock had a trading volume of 11,887,495 shares, compared to its average volume of 5,490,872. The company has a market capitalization of $9.04 billion, a PE ratio of 152.05, a PEG ratio of 8.40 and a beta of 1.77. Enphase Energy has a twelve month low of $65.66 and a twelve month 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 stock has a 50 day simple moving average of $100.48 and a two-hundred day simple moving average of $109.48.

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

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently modified their holdings of ENPH. Norden Group LLC bought a new position in shares of Enphase Energy in the first quarter valued at approximately $209,000. Texas Permanent School Fund Corp raised its position in shares of Enphase Energy by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 28,065 shares of the semiconductor company’s stock valued at $3,395,000 after purchasing an additional 452 shares during the period. Empirical Finance LLC raised its position in shares of Enphase Energy by 4.6% in the first quarter. Empirical Finance LLC now owns 3,787 shares of the semiconductor company’s stock valued at $458,000 after purchasing an additional 166 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Enphase Energy by 11.5% in the first quarter. Oppenheimer & Co. Inc. now owns 20,959 shares of the semiconductor company’s stock valued at $2,536,000 after purchasing an additional 2,164 shares during the period. Finally, Forsta AP Fonden raised its position in shares of Enphase Energy by 35.8% in the first quarter. Forsta AP Fonden now owns 50,400 shares of the semiconductor company’s stock valued at $6,097,000 after purchasing an additional 13,300 shares during the period. Institutional investors 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.