Enphase Energy Inc. (NASDAQ:ENPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $1.25 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 14.68% from the stock’s previous close.

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 brokerages have also recently commented on ENPH. Oppenheimer Holdings Inc. raised shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $2.00 price objective on the stock in a research note on Wednesday, November 2nd. Roth Capital reissued a “neutral” rating and issued a $1.05 price target (down previously from $1.50) on shares of Enphase Energy in a research note on Thursday, November 3rd. Canaccord Genuity reissued a “hold” rating and issued a $2.00 price target on shares of Enphase Energy in a research note on Thursday, August 4th. Deutsche Bank AG dropped their price target on shares of Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a research note on Friday, September 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $2.48.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH) traded up 0.93% during midday trading on Tuesday, reaching $1.09. 266,147 shares of the company were exchanged. Enphase Energy has a 52 week low of $0.98 and a 52 week high of $4.50. The firm’s 50 day moving average price is $1.12 and its 200-day moving average price is $1.67. The stock’s market capitalization is $67.48 million.

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

In related news, Director Benjamin John Kortlang purchased 600,000 shares of Enphase Energy stock in a transaction dated Friday, September 23rd. The shares were acquired at an average price of $1.20 per share, for a total transaction of $720,000.00. Following the acquisition, the director now directly owns 852,614 shares in the company, valued at $1,023,136.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 25.42% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its position in Enphase Energy by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 392,445 shares of the company’s stock valued at $463,000 after buying an additional 6,905 shares in 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 valued at $166,000 after buying an additional 27,800 shares during the period. 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 period. 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 period. Finally, Delta Lloyd NV raised its stake 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 period. Institutional investors and hedge funds own 24.97% of the company’s stock.

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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.

5 Day Chart for NASDAQ:ENPH

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