Analysts forecast that Enphase Energy Inc (NASDAQ:ENPH) will announce sales of $75.91 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Enphase Energy’s earnings, with estimates ranging from $74.30 million to $78.00 million. Enphase Energy reported sales of $90.60 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 16.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Enphase Energy will report full-year sales of $75.91 million for the current fiscal year, with estimates ranging from $280.70 million to $284.50 million. For the next financial year, analysts forecast that the company will report sales of $324.17 million per share, with estimates ranging from $309.80 million to $332.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Enphase Energy.
Several analysts recently weighed in on ENPH shares. Craig Hallum restated a “buy” rating and issued a $4.00 price objective on shares of Enphase Energy in a report on Monday, November 20th. Cowen restated a “buy” rating and issued a $2.25 price objective on shares of Enphase Energy in a report on Friday, November 10th. Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a report on Friday, January 12th. Oppenheimer restated a “buy” rating on shares of Enphase Energy in a report on Monday, February 5th. Finally, ValuEngine downgraded Enphase Energy from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $2.10.
Enphase Energy (NASDAQ:ENPH) traded up $0.01 during mid-day trading on Tuesday, hitting $2.29. The company had a trading volume of 1,131,976 shares, compared to its average volume of 892,631. The company has a debt-to-equity ratio of -4.75, a current ratio of 1.59 and a quick ratio of 1.30. The company has a market capitalization of $196.75, a P/E ratio of -3.14 and a beta of 1.36. Enphase Energy has a 12-month low of $0.65 and a 12-month high of $3.45.
In other Enphase Energy news, Director John Howard Weber sold 55,526 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $2.64, for a total value of $146,588.64. Following the completion of the transaction, the director now directly owns 35,326 shares in the company, valued at $93,260.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.37% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp raised its holdings in Enphase Energy by 4.6% in the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 5,479 shares in the last quarter. Monashee Investment Management LLC bought a new position in Enphase Energy in the fourth quarter worth about $133,000. K2 Principal Fund L.P. raised its holdings in Enphase Energy by 14.9% in the third quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock worth $770,000 after purchasing an additional 65,760 shares in the last quarter. Vanguard Group Inc. raised its holdings in Enphase Energy by 4.6% in the second quarter. Vanguard Group Inc. now owns 1,939,428 shares of the semiconductor company’s stock worth $1,678,000 after purchasing an additional 84,549 shares in the last quarter. Finally, KBC Group NV raised its holdings in Enphase Energy by 101.3% in 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 in the last quarter. Institutional investors and hedge funds own 22.32% 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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