Enphase Energy (NASDAQ:ENPH) has been assigned a $14.00 target price by equities researchers at Roth Capital in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price target suggests a potential upside of 52.34% from the stock’s previous close.
ENPH has been the topic of a number of other reports. BidaskClub lowered Enphase Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Cowen upped their target price on Enphase Energy from $6.75 to $8.50 and gave the stock an “in-line” rating in a research report on Thursday, February 21st. HC Wainwright set a $9.00 target price on Enphase Energy and gave the stock a “buy” rating in a research report on Tuesday, January 29th. ValuEngine raised Enphase Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $9.50.
Shares of NASDAQ:ENPH traded down $0.19 during trading on Thursday, reaching $9.19. 1,662,108 shares of the stock were exchanged, compared to its average volume of 2,632,025. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 10.50. Enphase Energy has a 1-year low of $3.70 and a 1-year high of $9.70. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -76.58 and a beta of 1.46.
Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 26th. The semiconductor company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $85.40 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts anticipate that Enphase Energy will post 0.21 earnings per share for the current fiscal year.
In related news, Director Richard Mora sold 70,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $9.09, for a total transaction of $636,300.00. Following the completion of the sale, the director now owns 109,788 shares in the company, valued at $997,972.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Badrinarayanan Kothandaraman purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $8.74 per share, with a total value of $87,400.00. Following the acquisition, the chief executive officer now directly owns 143,839 shares of the company’s stock, valued at approximately $1,257,152.86. The disclosure for this purchase can be found here. Insiders have sold 160,935 shares of company stock valued at $1,459,403 in the last quarter. 13.52% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Marathon Capital Management grew its stake in Enphase Energy by 2.1% in the 4th quarter. Marathon Capital Management now owns 442,700 shares of the semiconductor company’s stock valued at $2,093,000 after purchasing an additional 9,225 shares during the period. Westside Investment Management Inc. grew its stake in Enphase Energy by 28.4% in the 4th quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 1,986 shares during the period. Fisher Asset Management LLC bought a new position in Enphase Energy in the 4th quarter valued at $102,000. Tenzing Global Management LLC grew its stake in Enphase Energy by 25.0% in the 3rd quarter. Tenzing Global Management LLC now owns 3,750,000 shares of the semiconductor company’s stock valued at $18,188,000 after purchasing an additional 750,000 shares during the period. Finally, Virtu Financial LLC bought a new position in Enphase Energy in the 3rd quarter valued at $123,000. Hedge funds and other institutional investors own 43.03% of the company’s stock.
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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