B. Riley Analysts Give Enphase Energy (ENPH) a $8.00 Price Target
B. Riley set a $8.00 target price on Enphase Energy (NASDAQ:ENPH) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Enphase Energy’s FY2020 earnings at $0.29 EPS.
A number of other brokerages also recently weighed in on ENPH. Zacks Investment Research raised Enphase Energy from a hold rating to a buy rating and set a $7.50 price target on the stock in a research report on Wednesday, July 18th. HC Wainwright reissued a buy rating and set a $9.00 price target on shares of Enphase Energy in a research report on Wednesday, August 1st. BidaskClub downgraded Enphase Energy from a hold rating to a sell rating in a research report on Tuesday, July 31st. Finally, ValuEngine raised Enphase Energy from a sell rating to a hold rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $7.21.
NASDAQ ENPH traded down $0.25 during trading on Wednesday, reaching $5.56. 1,316,026 shares of the company’s stock were exchanged, compared to its average volume of 1,836,562. The company has a market cap of $599.69 million, a PE ratio of -10.30 and a beta of 0.48. The company has a quick ratio of 1.20, a current ratio of 1.55 and a debt-to-equity ratio of 21.18. Enphase Energy has a fifty-two week low of $1.81 and a fifty-two week high of $7.60.
In other news, CFO Eric Branderiz bought 19,880 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were bought at an average price of $5.03 per share, with a total value of $99,996.40. Following the completion of the transaction, the chief financial officer now owns 19,880 shares of the company’s stock, valued at $99,996.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was purchased at an average cost of $5.69 per share, for a total transaction of $85,350.00. Following the transaction, the chief executive officer now directly owns 129,440 shares of the company’s stock, valued at approximately $736,513.60. The disclosure for this purchase can be found here. Insiders bought 49,880 shares of company stock worth $258,546 in the last ninety days. 13.52% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Enphase Energy in the second quarter valued at approximately $115,000. SG Americas Securities LLC bought a new stake in shares of Enphase Energy in the second quarter valued at approximately $121,000. Jane Street Group LLC bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $133,000. Alps Advisors Inc. bought a new stake in shares of Enphase Energy in the third quarter valued at approximately $177,000. Finally, PEAK6 Investments L.P. bought a new stake in shares of Enphase Energy in the second quarter valued at approximately $193,000. 39.26% of the stock is currently owned by institutional investors.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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