A number of other research firms have also recently issued reports on ENPH. Zacks Investment Research raised Enphase Energy from a sell rating to a hold rating in a report on Tuesday, July 5th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Enphase Energy in a report on Friday, July 22nd. Canaccord Genuity reaffirmed a hold rating and issued a $2.00 price target on shares of Enphase Energy in a report on Thursday, August 4th. Finally, Deutsche Bank AG cut their price target on Enphase Energy from $1.50 to $1.30 and set a sell rating for the company in a report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $3.42.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.19 on Friday. The stock’s market capitalization is $55.63 million. The firm’s 50-day moving average price is $1.71 and its 200 day moving average price is $2.03. Enphase Energy has a 52 week low of $1.16 and a 52 week high of $5.37.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by $0.03. Enphase Energy had a negative net margin of 16.25% and a negative return on equity of 149.67%. The business earned $79.20 million during the quarter, compared to the consensus estimate of $78.71 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. Analysts expect that Enphase Energy will post ($1.05) earnings per share for the current year.
In related news, Director Benjamin John Kortlang bought 600,000 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was bought at an average cost of $1.20 per share, for a total transaction of $720,000.00. Following the transaction, the director now owns 852,614 shares of the company’s stock, valued at $1,023,136.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 25.42% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC raised its position in Enphase Energy by 767.4% in the first quarter. Spark Investment Management LLC now owns 615,851 shares of the company’s stock valued at $1,434,000 after buying an additional 544,851 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of Enphase Energy during the second quarter valued at about $1,064,000. Robecosam AG raised its position in shares of Enphase Energy by 8.5% in the first quarter. Robecosam AG now owns 1,720,000 shares of the company’s stock valued at $3,939,000 after buying an additional 135,000 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Enphase Energy during the second quarter valued at about $205,000. Finally, Delta Lloyd NV raised its position in shares of Enphase Energy by 25.0% in the second quarter. Delta Lloyd NV now owns 500,000 shares of the company’s stock valued at $995,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 29.54% of the company’s stock.
About Enphase Energy
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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