Enphase Energy Inc. (ENPH) Given Consensus Recommendation of “Hold” by Brokerages
Enphase Energy Inc. (NASDAQ:ENPH) has been given an average rating of “Hold” by the eleven research firms that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $2.48.
A number of equities research analysts have commented on ENPH shares. Deutsche Bank AG reduced their target price on Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a research report on Friday, September 23rd. Zacks Investment Research cut Enphase Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Enphase Energy in a research note on Friday, September 23rd. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 3rd. Finally, Avondale Partners raised Enphase Energy from a “market perform” rating to an “outperform” rating and set a $4.50 price objective for the company in a research note on Wednesday, November 2nd.
In other Enphase Energy news, Director Benjamin John Kortlang acquired 600,000 shares of the stock in a transaction dated Friday, September 23rd. The stock was acquired at an average cost of $1.20 per share, with a total value of $720,000.00. Following the transaction, the director now owns 852,614 shares in the company, valued at approximately $1,023,136.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 25.42% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robecosam AG boosted its position in 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. Guinness Atkinson Asset Management Inc boosted its position 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 valued at $416,000 after buying an additional 62,300 shares in the last quarter. Guinness Asset Management Ltd boosted its position in Enphase Energy by 50.0% in the second quarter. Guinness Asset Management Ltd now owns 83,400 shares of the company’s stock valued at $166,000 after buying an additional 27,800 shares in the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new position in Enphase Energy during the second quarter valued at about $1,064,000. Finally, Delta Lloyd NV boosted its position in 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. 22.21% of the stock is owned by institutional investors and hedge funds.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.10 on Tuesday. Enphase Energy has a 52 week low of $0.98 and a 52 week high of $4.50. The company’s 50 day moving average price is $1.13 and its 200-day moving average price is $1.69. The stock’s market capitalization is $68.10 million.
Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, November 1st. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate 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 analysts’ expectations of $89.69 million. During the same quarter in the prior year, the firm earned $0.01 EPS. Enphase Energy’s revenue for the quarter was down 13.8% compared to the same quarter last year. Equities research analysts predict that Enphase Energy will post ($1.06) EPS for the current year.
Enphase Energy Company Profile
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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