Enphase Energy Inc. (ENPH) Receives Consensus Recommendation of “Hold” from Brokerages
Enphase Energy Inc. (NASDAQ:ENPH) has been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.50.
Several research analysts recently weighed in on ENPH shares. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a report on Wednesday, August 31st. Canaccord Genuity reiterated a “hold” rating and issued a $2.00 target price on shares of Enphase Energy in a research note on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Roth Capital reiterated a “neutral” rating and issued a $1.50 target price (down from $1.80) on shares of Enphase Energy in a research note on Friday, September 23rd.
In other Enphase Energy news, Director Benjamin John Kortlang acquired 600,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was bought at an average cost of $1.20 per share, with a total value of $720,000.00. Following the acquisition, the director now owns 852,614 shares in the company, valued at $1,023,136.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.42% of the stock is currently owned by corporate insiders.
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A number of hedge funds have recently bought and sold shares of the company. Paloma Partners Management Co purchased a new stake in Enphase Energy during the second quarter valued at about $205,000. Menta Capital LLC boosted its stake in 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 in the last quarter. Delta Lloyd NV boosted its stake in 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 in the last quarter. Kleinwort Benson Investors Dublin Ltd purchased a new stake in Enphase Energy during the second quarter valued at about $1,064,000. Finally, Guinness Asset Management Ltd boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 23.11% of the company’s stock.
Enphase Energy (NASDAQ:ENPH) remained flat at $1.06 during mid-day trading on Tuesday. The company had a trading volume of 768,869 shares. The firm’s market cap is $49.55 million. Enphase Energy has a 12 month low of $1.02 and a 12 month high of $5.22. The firm’s 50 day moving average is $1.55 and its 200 day moving average is $1.95.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by $0.03. Enphase Energy had a negative return on equity of 149.67% and a negative net margin of 16.25%. The firm had revenue of $79.20 million for the quarter, compared to analysts’ expectations of $78.71 million. During the same quarter last year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. Equities analysts forecast that Enphase Energy will post ($1.07) earnings per share for the current year.
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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