Equities researchers at Goldman Sachs Group initiated coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research report issued to clients and investors on Monday, The Fly reports. The firm set a “buy” rating on the semiconductor company’s stock.
ENPH has been the subject of a number of other reports. JPMorgan Chase & Co. initiated coverage on Enphase Energy in a research report on Monday, September 16th. They set an “overweight” rating and a $32.00 target price for the company. BidaskClub raised Enphase Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Northland Securities set a $40.00 target price on Enphase Energy and gave the company a “buy” rating in a research report on Wednesday, October 9th. ValuEngine downgraded Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Roth Capital set a $30.00 price target on Enphase Energy and gave the company a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $34.59.
NASDAQ ENPH traded up $0.20 on Monday, reaching $22.07. 4,396,000 shares of the stock traded hands, compared to its average volume of 3,851,097. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 2.67. The company has a fifty day moving average price of $21.26 and a 200-day moving average price of $22.24. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -183.92 and a beta of 0.94. Enphase Energy has a 12 month low of $4.53 and a 12 month high of $35.42.
Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The business had revenue of $180.06 million during the quarter, compared to analyst estimates of $176.49 million. Enphase Energy had a return on equity of 62.77% and a net margin of 8.92%. Enphase Energy’s revenue was up 130.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 EPS. As a group, research analysts anticipate that Enphase Energy will post 0.61 earnings per share for the current fiscal year.
In other news, VP David A. Ranhoff sold 30,000 shares of Enphase Energy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.25, for a total value of $877,500.00. Following the transaction, the vice president now directly owns 767,297 shares in the company, valued at approximately $22,443,437.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mandy Yang sold 10,000 shares of Enphase Energy stock in a transaction on Friday, November 1st. The shares were sold at an average price of $19.07, for a total value of $190,700.00. Following the completion of the transaction, the chief accounting officer now owns 164,257 shares in the company, valued at $3,132,380.99. The disclosure for this sale can be found here. Insiders sold a total of 92,500 shares of company stock worth $2,256,065 over the last quarter. Company insiders own 12.46% of the company’s stock.
Large investors have recently made changes to their positions in the company. Aperio Group LLC purchased a new position in shares of Enphase Energy in the 2nd quarter valued at $26,000. Gradient Investments LLC purchased a new position in Enphase Energy during the 3rd quarter worth $60,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Enphase Energy by 607.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after buying an additional 2,430 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Enphase Energy during the 2nd quarter worth $54,000. Finally, Russell Investments Group Ltd. purchased a new position in Enphase Energy during the 3rd quarter worth $67,000. Institutional investors and hedge funds own 44.72% of the company’s stock.
About Enphase Energy
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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