BidaskClub cut shares of Enphase Energy (NASDAQ:ENPH) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, BidAskClub reports.
Other research analysts have also recently issued reports about the company. Credit Suisse Group started coverage on Enphase Energy in a research report on Monday, March 25th. They issued a neutral rating and a $10.00 target price for the company. Craig Hallum reiterated a buy rating and set a $17.00 price objective (up from $10.00) on shares of Enphase Energy in a research note on Wednesday, May 1st. TheStreet upgraded Enphase Energy from a c rating to a b- rating in a research note on Tuesday, May 21st. Raymond James lowered Enphase Energy from a market perform rating to an underperform rating in a research note on Tuesday, March 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Enphase Energy from a hold rating to a buy rating and set a $10.00 price objective for the company in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Enphase Energy presently has an average rating of Buy and an average price target of $13.21.
Shares of ENPH stock opened at $17.33 on Tuesday. The firm has a market capitalization of $1.93 billion, a P/E ratio of -144.42 and a beta of 0.83. Enphase Energy has a one year low of $3.70 and a one year high of $17.68. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.52 and a quick ratio of 1.42.
Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $100.15 million during the quarter, compared to the consensus estimate of $92.26 million. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period last year, the business earned ($0.01) earnings per share. As a group, sell-side analysts predict that Enphase Energy will post 0.36 earnings per share for the current fiscal year.
In other Enphase Energy news, VP David A. Ranhoff sold 63,516 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $14.62, for a total transaction of $928,603.92. Following the completion of the transaction, the vice president now directly owns 790,517 shares in the company, valued at $11,557,358.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Branderiz sold 30,935 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $8.88, for a total value of $274,702.80. The disclosure for this sale can be found here. Insiders have sold 96,561 shares of company stock valued at $1,222,613 over the last quarter. Corporate insiders own 12.46% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ENPH. Capital Investment Advisory Services LLC acquired a new position in Enphase Energy during the fourth quarter worth $38,000. Westside Investment Management Inc. increased its stake in shares of Enphase Energy by 28.4% in the fourth quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 1,986 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Enphase Energy in the first quarter valued at $57,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Enphase Energy by 24.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 2,500 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 48.41% of the company’s stock.
Enphase Energy Company Profile
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.
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