Enphase Energy Inc. (ENPH) Receives $2.50 Consensus Target Price from Analysts
Enphase Energy Inc. (NASDAQ:ENPH) has been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $2.50.
A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Enphase Energy in a report on Monday, June 27th. Roth Capital reiterated a “neutral” rating and issued a $1.50 price objective (down previously from $1.80) on shares of Enphase Energy in a report on Friday, September 23rd. Zacks Investment Research upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Deutsche Bank AG dropped their price objective on shares of Enphase Energy from $1.50 to $1.30 and set a “sell” rating for the company in a report on Friday, September 23rd. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Enphase Energy in a report on Wednesday, August 3rd.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.10 on Tuesday. Enphase Energy has a 12 month low of $1.02 and a 12 month high of $5.37. The company’s market cap is $51.42 million. The stock has a 50 day moving average of $1.48 and a 200-day moving average of $1.93.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.03. The business earned $79.20 million during the quarter, compared to the consensus estimate of $78.71 million. Enphase Energy had a negative net margin of 16.25% and a negative return on equity of 149.67%. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. On average, analysts forecast that Enphase Energy will post ($1.07) EPS for the current year.
In other Enphase Energy news, Director Benjamin John Kortlang acquired 600,000 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The shares were bought at an average cost of $1.20 per share, with a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 852,614 shares of the company’s stock, valued at approximately $1,023,136.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 25.42% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Robecosam AG boosted 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 during the last quarter. Spark Investment Management LLC boosted its position in shares of 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 purchased a new position in shares of Enphase Energy during the second quarter valued at about $1,064,000. Delta Lloyd NV boosted 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 during the last quarter. Finally, Guinness Atkinson Asset Management Inc boosted its position in shares of Enphase Energy by 42.5% in the second quarter. Guinness Atkinson Asset Management Inc now owns 208,900 shares of the company’s stock valued at $416,000 after buying an additional 62,300 shares during the last quarter. 23.11% of the stock is currently owned by institutional investors and hedge funds.
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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