Enphase Energy Coverage Initiated by Analysts at Needham & Company LLC (ENPH)
Shares of Enphase Energy (NASDAQ:ENPH) traded down 0.87% during mid-day trading on Monday, hitting $13.75. The stock had a trading volume of 448,803 shares. Enphase Energy has a 1-year low of $4.54 and a 1-year high of $14.25. The stock has a 50-day moving average of $10.94 and a 200-day moving average of $8.76. The company’s market cap is $590.5 million.
Enphase Energy (NASDAQ:ENPH) last released its earnings data on Tuesday, August 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $82.00 million for the quarter, compared to the consensus estimate of $71.11 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, analysts predict that Enphase Energy will post $0.04 earnings per share for the current fiscal year.
In other Enphase Energy news, major shareholder Madrone Partners, L.P. sold 800,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $10.03, for a total transaction of $8,024,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Several other analysts have also recently commented on the stock. Analysts at Imperial Capital raised their price target on shares of Enphase Energy from $12.00 to $13.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 6th. They now have a $12.00 price target on the stock, up previously from $11.00. Finally, analysts at Roth Capital raised their price target on shares of Enphase Energy from $10.00 to $15.00 in a research note on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Enphase Energy presently has a consensus rating of “Buy” and an average price target of $13.00.
Enphase Energy, Inc (NASDAQ:ENPH), designs, develops and sells microinverter systems for the solar photovoltaic industry.
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