Roth Capital reissued their neutral rating on shares of Enphase Energy Inc. (NASDAQ:ENPH) in a research note published on Friday. They currently have a $1.50 price target on the stock, down from their prior price target of $1.80.
Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Enphase Energy in a research note on Friday, July 22nd. Needham & Company LLC reaffirmed a hold rating on shares of Enphase Energy in a research note on Wednesday, August 31st. Canaccord Genuity reaffirmed a hold rating and set a $2.00 target price on shares of Enphase Energy in a research note on Thursday, August 4th. Deutsche Bank AG lowered their target price on shares of Enphase Energy from $1.50 to $1.30 and set a sell rating for the company in a research note on Friday, September 23rd. Finally, Zacks Investment Research raised shares of Enphase Energy from a sell rating to a hold rating in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $3.42.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.19 on Friday. The stock’s market capitalization is $55.63 million. Enphase Energy has a 52-week low of $1.16 and a 52-week high of $5.37. The firm has a 50-day moving average of $1.71 and a 200 day moving average of $2.03.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. Enphase Energy had a negative return on equity of 149.67% and a negative net margin of 16.25%. The firm had revenue of $79.20 million for the quarter, compared to analyst estimates of $78.71 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. Enphase Energy’s revenue for the quarter was down 22.4% on a year-over-year basis. Equities research analysts forecast that Enphase Energy will post ($1.05) EPS for the current fiscal year.
In other news, Director Benjamin John Kortlang purchased 600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The stock was bought at an average price of $1.20 per share, for a total transaction of $720,000.00. Following the completion of the purchase, the director now directly owns 852,614 shares of the company’s stock, valued at $1,023,136.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.42% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Robecosam AG boosted its stake in Enphase Energy by 8.5% in the first quarter. Robecosam AG now owns 1,720,000 shares of the company’s stock worth $3,939,000 after buying an additional 135,000 shares during the last quarter. Spark Investment Management LLC boosted its stake in Enphase Energy by 767.4% in the first quarter. Spark Investment Management LLC now owns 615,851 shares of the company’s stock worth $1,434,000 after buying an additional 544,851 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd bought a new stake in Enphase Energy during the second quarter worth $1,064,000. Delta Lloyd NV boosted its stake in Enphase Energy by 25.0% in the second quarter. Delta Lloyd NV now owns 500,000 shares of the company’s stock worth $995,000 after buying an additional 100,000 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc boosted its stake in Enphase Energy by 42.5% in the second quarter. Guinness Atkinson Asset Management Inc now owns 208,900 shares of the company’s stock worth $416,000 after buying an additional 62,300 shares during the last quarter. 29.54% of the stock is currently owned by institutional investors.
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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