B. Riley cut shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a neutral rating in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has $35.00 price objective on the semiconductor company’s stock, up from their prior price objective of $28.00.
A number of other research firms also recently weighed in on ENPH. Roth Capital set a $30.00 price objective on Enphase Energy and gave the company a buy rating in a report on Friday, October 25th. TheStreet upgraded Enphase Energy from a c+ rating to a b rating in a report on Thursday, January 2nd. Goldman Sachs Group started coverage on Enphase Energy in a report on Monday, December 2nd. They set a buy rating and a $31.00 price target for the company. Finally, BidaskClub upgraded Enphase Energy from a buy rating to a strong-buy rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $35.46.
NASDAQ ENPH traded down $0.25 on Thursday, reaching $41.09. The company had a trading volume of 4,911,598 shares, compared to its average volume of 5,478,799. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 120.85 and a beta of 0.93. Enphase Energy has a fifty-two week low of $7.01 and a fifty-two week high of $42.39. The business has a 50 day moving average of $32.29 and a two-hundred day moving average of $26.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.67 and a quick ratio of 2.46.
Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Enphase Energy by 607.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,430 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Enphase Energy during the 3rd quarter worth about $67,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Enphase Energy during the 4th quarter worth about $75,000. Quest Capital Management Inc. ADV bought a new position in shares of Enphase Energy during the 3rd quarter worth about $76,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Enphase Energy by 95.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,075 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,505 shares in the last quarter. 44.62% of the stock is currently owned by institutional investors.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
Further Reading: Stock Portfolio Tracker
Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.