Zacks Investment Research upgraded shares of Enphase Energy Inc. (NASDAQ:ENPH) from a hold rating to a buy rating in a research report released on Monday morning. The firm currently has $1.25 price objective on the stock.

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 research firms 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 target price on the stock in a research report on Wednesday, November 2nd. Roth Capital reaffirmed a neutral rating and issued a $1.05 target price (down from $1.50) on shares of Enphase Energy in a research report on Thursday, November 3rd. Canaccord Genuity reissued a hold rating and set a $2.00 price objective on shares of Enphase Energy in a research report on Thursday, August 4th. Deutsche Bank AG lowered their price objective on shares of Enphase Energy from $1.50 to $1.30 and set a sell rating on the stock in a research report on Friday, September 23rd. Finally, Needham & Company LLC reissued a hold rating on shares of Enphase Energy in a research report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $2.48.

Enphase Energy (NASDAQ:ENPH) opened at 1.13 on Monday. The firm’s market cap is $69.96 million. Enphase Energy has a 12 month low of $0.98 and a 12 month high of $4.50. The firm has a 50 day moving average of $1.12 and a 200-day moving average of $1.64.

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. The company earned $88.70 million during the quarter, compared to analysts’ expectations of $89.69 million. Enphase Energy had a negative net margin of 23.54% and a negative return on equity of 294.30%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. On average, equities research analysts forecast that Enphase Energy will post ($1.06) earnings per share for the current year.

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In other Enphase Energy news, Director Benjamin John Kortlang bought 600,000 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was bought at an average price of $1.20 per share, for a total transaction of $720,000.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 25.42% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. 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 worth $416,000 after buying an additional 62,300 shares during the last quarter. Guinness Asset Management Ltd increased 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 period. Delta Lloyd NV increased 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 worth $995,000 after buying an additional 100,000 shares during the period. Kleinwort Benson Investors Dublin Ltd purchased a new stake in shares of Enphase Energy during the second quarter worth approximately $1,064,000. Finally, KCG Holdings Inc. increased 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 period. Institutional investors own 24.83% 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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