Roth Capital Analysts Give Enphase Energy (ENPH) a $6.00 Price Target

Roth Capital set a $6.00 target price on Enphase Energy (NASDAQ:ENPH) in a research note released on Thursday morning. The firm currently has a buy rating on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Enphase Energy from a buy rating to a hold rating in a research note on Tuesday, January 23rd. BidaskClub raised shares of Enphase Energy from a hold rating to a buy rating in a research note on Thursday, March 1st. Oppenheimer reaffirmed a buy rating on shares of Enphase Energy in a research note on Monday, February 5th. Finally, ValuEngine cut shares of Enphase Energy from a sell rating to a strong sell rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $3.25.

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Enphase Energy stock opened at $4.83 on Thursday. Enphase Energy has a 1 year low of $0.65 and a 1 year high of $4.97. The company has a debt-to-equity ratio of -4.75, a quick ratio of 1.30 and a current ratio of 1.59. The firm has a market cap of $414.98, a PE ratio of -8.78 and a beta of 0.78.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Enphase Energy had a negative net margin of 15.79% and a negative return on equity of 1,232.10%. The firm had revenue of $79.67 million during the quarter, compared to the consensus estimate of $75.91 million. analysts forecast that Enphase Energy will post -0.02 earnings per share for the current year.

In related news, CFO Humberto Garcia sold 16,375 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $2.75, for a total transaction of $45,031.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Badrinarayanan Kothandaraman acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were acquired at an average cost of $3.32 per share, with a total value of $132,800.00. Following the purchase, the chief executive officer now owns 80,677 shares in the company, valued at approximately $267,847.64. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 96,537 shares of company stock valued at $351,934. 17.37% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $107,000. Wade G W & Inc. purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $108,000. Northern Trust Corp grew its stake in shares of Enphase Energy by 4.6% in the 2nd quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 5,479 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $128,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $133,000. 26.72% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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