HSBC Downgrades Enphase Energy (NASDAQ:ENPH) to Hold

Enphase Energy (NASDAQ:ENPH) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $86.00 price target on the semiconductor company’s stock. HSBC’s price objective indicates a potential upside of 4.76% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Truist Financial reissued a “hold” rating and issued a $135.00 target price on shares of Enphase Energy in a research report on Wednesday, October 4th. The Goldman Sachs Group reduced their price objective on Enphase Energy from $250.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, July 31st. B. Riley raised Enphase Energy from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $247.00 to $214.00 in a research note on Friday, June 30th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft downgraded Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $165.00 in a research note on Friday, July 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $75.00 price objective (down from $150.00) on shares of Enphase Energy in a research note on Friday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $186.21.

Enphase Energy Stock Down 14.6 %

Shares of NASDAQ ENPH opened at $82.09 on Friday. The stock has a market cap of $11.19 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.12 and a beta of 1.53. The company has a quick ratio of 3.22, a current ratio of 3.44 and a debt-to-equity ratio of 1.23. Enphase Energy has a 52-week low of $79.55 and a 52-week high of $339.92. The business has a 50-day moving average price of $119.52 and a 200 day moving average price of $152.30.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. The firm had revenue of $711.12 million during the quarter, compared to analysts’ expectations of $726.94 million. Enphase Energy had a return on equity of 64.63% and a net margin of 21.08%. Equities research analysts forecast that Enphase Energy will post 3.65 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers acquired 32,600 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average price of $122.76 per share, for a total transaction of $4,001,976.00. Following the completion of the acquisition, the director now directly owns 85,200 shares of the company’s stock, valued at $10,459,152. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its holdings in Enphase Energy by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock valued at $1,603,000 after acquiring an additional 48 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in Enphase Energy by 29.7% in the first quarter. Ronald Blue Trust Inc. now owns 214 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 49 shares during the last quarter. ETF Managers Group LLC boosted its holdings in Enphase Energy by 1.5% in the first quarter. ETF Managers Group LLC now owns 3,577 shares of the semiconductor company’s stock valued at $752,000 after acquiring an additional 53 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in Enphase Energy by 6.5% in the second quarter. ICICI Prudential Asset Management Co Ltd now owns 931 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 57 shares during the last quarter. Finally, Alterity Financial Group LLC boosted its holdings in Enphase Energy by 4.5% in the second quarter. Alterity Financial Group LLC now owns 1,390 shares of the semiconductor company’s stock valued at $233,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 71.05% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.