Enphase Energy (NASDAQ:ENPH) Upgraded at OTR Global

OTR Global upgraded shares of Enphase Energy (NASDAQ:ENPH) from a negative rating to a mixed rating in a research note published on Friday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on ENPH. Northland Securities dropped their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Barclays dropped their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $93.00 to $61.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.33.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $71.45 on Friday. The stock has a market capitalization of $9.65 billion, a PE ratio of 162.39, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The stock has a 50 day moving average price of $75.45 and a 200 day moving average price of $99.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last released 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). The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Analysts predict that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Electron Capital Partners LLC grew its holdings in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP purchased a new position in Enphase Energy during the 2nd quarter worth $51,582,000. Mizuho Securities USA LLC grew its stake in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after acquiring an additional 438,424 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in shares of Enphase Energy in the third quarter valued at about $48,442,000. Finally, Montrusco Bolton Investments Inc. lifted its position in shares of Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after purchasing an additional 424,327 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.