Enphase Energy (NASDAQ:ENPH) Upgraded to Neutral at Guggenheim

Guggenheim upgraded shares of Enphase Energy (NASDAQ:ENPH) from a sell rating to a neutral rating in a research report report published on Thursday morning, MarketBeat Ratings reports.

A number of other equities research analysts have also commented on ENPH. Royal Bank of Canada lowered shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $125.00 to $100.00 in a report on Tuesday. Piper Sandler boosted their target price on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Glj Research started coverage on Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target on the stock. Finally, William Blair began coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $122.96.

Enphase Energy Price Performance

Shares of ENPH stock opened at $91.57 on Thursday. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. 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 fifty day moving average of $111.57 and a 200-day moving average of $113.05.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue was down 57.3% compared to the same quarter last year. On average, equities research analysts forecast that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Swedbank AB acquired a new stake in shares of Enphase Energy in the 1st quarter worth about $424,130,000. Electron Capital Partners LLC lifted its stake in Enphase Energy by 1,021.4% during 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 acquiring an additional 1,078,154 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Enphase Energy by 11.1% during the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after acquiring an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Enphase Energy by 17.6% in the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after purchasing an additional 123,856 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.