Enphase Energy (NASDAQ:ENPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $2.75 target price on the semiconductor company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 22.77% 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 equities analysts have also weighed in on the stock. ValuEngine lowered shares of Enphase Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Craig Hallum restated a “buy” rating and issued a $4.00 price objective on shares of Enphase Energy in a research report on Monday, November 20th. Cowen restated a “buy” rating and issued a $2.25 price objective on shares of Enphase Energy in a research report on Friday, November 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Enphase Energy presently has an average rating of “Hold” and a consensus price target of $2.20.

Enphase Energy (ENPH) opened at $2.24 on Friday. The company has a debt-to-equity ratio of -4.75, a current ratio of 1.59 and a quick ratio of 1.30. Enphase Energy has a 1 year low of $0.65 and a 1 year high of $3.45.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $77.00 million during the quarter, compared to analyst estimates of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. The company’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.28) earnings per share. sell-side analysts expect that Enphase Energy will post -0.57 earnings per share for the current fiscal year.

In other news, CEO Badrinarayanan Kothandaraman acquired 40,677 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $1.78 per share, for a total transaction of $72,405.06. Following the completion of the transaction, the chief executive officer now owns 40,677 shares of the company’s stock, valued at $72,405.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Howard Weber sold 55,526 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $2.64, for a total transaction of $146,588.64. Following the completion of the transaction, the director now owns 35,326 shares of the company’s stock, valued at $93,260.64. The disclosure for this sale can be found here. 17.37% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Tenzing Global Management LLC boosted its position in shares of Enphase Energy by 600.0% in the third quarter. Tenzing Global Management LLC now owns 4,200,000 shares of the semiconductor company’s stock valued at $6,384,000 after acquiring an additional 3,600,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Enphase Energy by 4.6% in the second quarter. Vanguard Group Inc. now owns 1,939,428 shares of the semiconductor company’s stock valued at $1,678,000 after acquiring an additional 84,549 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Enphase Energy by 10,872.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,846,393 shares of the semiconductor company’s stock valued at $1,597,000 after acquiring an additional 1,829,566 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its position in Enphase Energy by 119.2% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,672,927 shares of the semiconductor company’s stock valued at $2,543,000 after purchasing an additional 909,801 shares during the last quarter. Finally, Old West Investment Management LLC lifted its position in Enphase Energy by 55.1% during the third quarter. Old West Investment Management LLC now owns 1,619,108 shares of the semiconductor company’s stock valued at $2,461,000 after purchasing an additional 575,453 shares during the last quarter. Institutional investors own 22.88% 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.

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