Enphase Energy (NASDAQ:ENPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $2.75 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 22.77% from the stock’s current price.
According to Zacks, “Enphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California. “
A number of other research firms also recently issued reports on ENPH. ValuEngine downgraded shares of Enphase Energy from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Craig Hallum restated a “buy” rating and set a $4.00 price objective on shares of Enphase Energy in a report on Monday, November 20th. Cowen restated a “buy” rating and set a $2.25 price objective on shares of Enphase Energy in a report on Friday, November 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Enphase Energy presently has an average rating of “Hold” and a consensus target price of $2.20.
Shares of Enphase Energy (NASDAQ:ENPH) opened at $2.24 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.30 and a debt-to-equity ratio of -4.75. Enphase Energy has a 1-year low of $0.65 and a 1-year high of $3.45.
Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The company had revenue of $77.00 million during the quarter, compared to the consensus estimate of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.28) earnings per share. sell-side analysts forecast that Enphase Energy will post -0.57 EPS for the current fiscal year.
In related news, CEO Badrinarayanan Kothandaraman acquired 40,677 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $1.78 per share, for a total transaction of $72,405.06. Following the completion of the acquisition, the chief executive officer now owns 40,677 shares of the company’s stock, valued at approximately $72,405.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Howard Weber sold 55,526 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $2.64, for a total transaction of $146,588.64. Following the sale, the director now owns 35,326 shares of the company’s stock, valued at approximately $93,260.64. The disclosure for this sale can be found here. Company insiders own 17.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Northern Trust Corp increased its holdings in Enphase Energy by 4.6% during the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after buying an additional 5,479 shares during the last quarter. First Trust Advisors LP boosted its position in Enphase Energy by 55.4% during the second quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 44,908 shares during the period. KBC Group NV boosted its position in Enphase Energy by 101.3% during the third quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 90,665 shares during the period. K2 Principal Fund L.P. boosted its position in Enphase Energy by 470.1% during the second quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 363,490 shares during the period. Finally, Divisar Capital Management LLC boosted its position in Enphase Energy by 11.8% during the second quarter. Divisar Capital Management LLC now owns 1,131,297 shares of the semiconductor company’s stock worth $979,000 after purchasing an additional 119,459 shares during the period. Institutional investors and hedge funds own 22.88% of the company’s stock.
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Enphase Energy Company Profile
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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