Enphase Energy (NASDAQ:ENPH) Stock Rating Upgraded by Guggenheim

Enphase Energy (NASDAQ:ENPH) was upgraded by research analysts at Guggenheim from a “sell” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports.

A number of other brokerages also recently issued reports on ENPH. Roth Mkm reduced their price objective on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Susquehanna dropped their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Raymond James reduced their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Piper Sandler cut their price objective on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $93.43.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $62.05 on Friday. The stock has a fifty day simple moving average of $69.35 and a 200 day simple moving average of $90.38. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 141.02, a PEG ratio of 7.94 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its stake in Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after buying an additional 58,040 shares during the last quarter. Swedbank AB boosted its position in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares during the period. Geode Capital Management LLC lifted its stake in Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after acquiring an additional 20,579 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Enphase Energy by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after buying an additional 142,491 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.