Enphase Energy Inc. (NASDAQ:ENPH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Enphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California. “

A number of other equities analysts have also recently issued reports on ENPH. Roth Capital set a $1.00 price objective on shares of Enphase Energy and gave the company a “hold” rating in a research note on Wednesday, November 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Enphase Energy in a research note on Friday, September 23rd. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Enphase Energy in a report on Wednesday, August 3rd. Deutsche Bank AG cut their target price on shares of Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a report on Friday, September 23rd. Finally, Oppenheimer Holdings Inc. upgraded shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $2.00 target price on the stock in a report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Enphase Energy presently has an average rating of “Hold” and an average target price of $2.48.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.05 on Monday. Enphase Energy has a one year low of $0.98 and a one year high of $4.50. The company’s market capitalization is $65.00 million. The company has a 50-day moving average of $1.13 and a 200-day moving average of $1.70.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.04. Enphase Energy had a negative net margin of 23.54% and a negative return on equity of 294.30%. The business earned $88.70 million during the quarter, compared to the consensus estimate of $89.69 million. During the same period in the previous year, the business posted $0.01 earnings per share. Enphase Energy’s revenue was down 13.8% compared to the same quarter last year. On average, analysts anticipate that Enphase Energy will post ($1.06) earnings per share for the current year.

In related 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 acquired at an average cost of $1.20 per share, for a total transaction of $720,000.00. Following the completion of the acquisition, the director now directly owns 852,614 shares in the company, valued at approximately $1,023,136.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 25.42% of the company’s stock.

Several large investors have recently modified their holdings of ENPH. KCG Holdings Inc. raised its stake in shares of Enphase Energy by 530.7% in the third quarter. KCG Holdings Inc. now owns 121,938 shares of the company’s stock worth $144,000 after buying an additional 102,603 shares during the last quarter. Guinness Asset Management Ltd raised its stake in shares of Enphase Energy by 50.0% in the second quarter. Guinness Asset Management Ltd now owns 83,400 shares of the company’s stock worth $166,000 after buying an additional 27,800 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Enphase Energy during the second quarter valued at about $205,000. Menta Capital LLC raised its stake in shares of Enphase Energy by 98.7% in the second quarter. Menta Capital LLC now owns 165,064 shares of the company’s stock valued at $328,000 after buying an additional 81,972 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc raised its stake 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. Institutional investors and hedge funds own 22.21% 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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