Enphase Energy (ENPH) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Enphase Energy (NASDAQ:ENPH) from a strong sell rating to a sell rating in a research report report published on Tuesday.

A number of other equities research analysts also recently weighed in on ENPH. ValuEngine raised Enphase Energy from a hold rating to a buy rating in a research report on Tuesday, June 26th. Zacks Investment Research raised Enphase Energy from a hold rating to a buy rating and set a $8.00 target price on the stock in a research report on Tuesday, July 3rd. HC Wainwright reissued a buy rating and set a $9.00 target price on shares of Enphase Energy in a research report on Wednesday, August 1st. Finally, B. Riley set a $8.00 price objective on Enphase Energy and gave the company a buy rating in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Enphase Energy presently has a consensus rating of Buy and a consensus price target of $7.21.

ENPH stock opened at $4.74 on Tuesday. Enphase Energy has a twelve month low of $1.26 and a twelve month high of $7.60. The stock has a market cap of $476.49 million, a P/E ratio of -8.78 and a beta of 0.30. The company has a debt-to-equity ratio of -1.11, a quick ratio of 1.20 and a current ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $75.90 million for the quarter, compared to analyst estimates of $76.76 million. During the same period last year, the business earned ($0.08) earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Enphase Energy will post -0.08 earnings per share for the current fiscal year.

In related news, CFO Eric Branderiz acquired 19,880 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were bought at an average cost of $5.03 per share, with a total value of $99,996.40. Following the completion of the acquisition, the chief financial officer now owns 19,880 shares of the company’s stock, valued at $99,996.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 15,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were bought at an average cost of $4.88 per share, for a total transaction of $73,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 95,677 shares of the company’s stock, valued at approximately $466,903.76. The disclosure for this purchase can be found here. 13.52% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marathon Capital Management acquired a new stake in Enphase Energy during the second quarter valued at approximately $1,688,000. BlueMountain Capital Management LLC acquired a new position in shares of Enphase Energy in the 2nd quarter worth approximately $925,000. Engineers Gate Manager LP acquired a new position in shares of Enphase Energy in the 2nd quarter worth approximately $227,000. BDO Wealth Advisors LLC acquired a new position in shares of Enphase Energy in the 2nd quarter worth approximately $337,000. Finally, Millennium Management LLC boosted its holdings in shares of Enphase Energy by 379.0% in the 1st quarter. Millennium Management LLC now owns 1,026,880 shares of the semiconductor company’s stock worth $4,693,000 after acquiring an additional 812,493 shares in the last quarter. 39.17% of the stock is currently owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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