Enphase Energy (NASDAQ:ENPH) Lowered to “Underperform” Rating by Jefferies Financial Group

Enphase Energy (NASDAQ:ENPH) was downgraded by analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a note issued to investors on Thursday, FinViz reports. They presently have a $61.00 price target on the semiconductor company’s stock, down from their prior price target of $93.00. Jefferies Financial Group’s price target would suggest a potential downside of 18.46% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lowered their price objective on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Wednesday, October 23rd. Raymond James cut their price objective 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. William Blair initiated coverage on shares of Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, Morgan Stanley cut their price target on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $109.46.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $74.81 on Thursday. The firm has a market capitalization of $10.11 billion, a P/E ratio of 170.02, a price-to-earnings-growth ratio of 9.82 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The business’s fifty day simple moving average is $102.56 and its 200 day simple moving average is $110.05. Enphase Energy has a 12 month low of $71.38 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced 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 the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s revenue was down 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, analysts anticipate that Enphase Energy will post 0.92 EPS for the current year.

Institutional Trading of Enphase Energy

A number of institutional investors have recently modified their holdings of ENPH. Swedbank AB bought a new stake in Enphase Energy in the first quarter valued at $424,130,000. Baillie Gifford & Co. boosted its stake 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 valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its position in shares of 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 valued at $118,028,000 after buying an additional 1,078,154 shares during the period. Anomaly Capital Management LP bought a new position in Enphase Energy in the second quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Enphase Energy in the first quarter worth about $59,128,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.