Enphase Energy Inc (NASDAQ:ENPH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.

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. “

Separately, Roth Capital set a $2.00 price target on shares of Enphase Energy and gave the stock a “hold” rating in a research note on Monday, February 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $2.29.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

Shares of Enphase Energy (NASDAQ:ENPH) traded down 6.1781% on Monday, hitting $0.7745. The stock had a trading volume of 2,988,241 shares. Enphase Energy has a 1-year low of $0.75 and a 1-year high of $2.38. The company’s market capitalization is $63.92 million. The firm has a 50-day moving average of $1.24 and a 200 day moving average of $1.30.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.05. The business had revenue of $54.75 million during the quarter, compared to the consensus estimate of $62.72 million. Enphase Energy had a negative net margin of 23.54% and a negative return on equity of 294.30%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, equities analysts anticipate that Enphase Energy will post ($0.18) earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. K2 Principal Fund L.P. purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $106,000. First Trust Advisors LP purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $111,000. KBC Group NV increased its position in shares of Enphase Energy by 40.8% in the first quarter. KBC Group NV now owns 89,472 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 25,926 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $124,000. Finally, Ancora Advisors LLC increased its position in shares of Enphase Energy by 30.0% in the fourth quarter. Ancora Advisors LLC now owns 130,000 shares of the semiconductor company’s stock valued at $131,000 after buying an additional 30,000 shares during the period. 23.84% of the stock is owned by hedge funds and other institutional investors.

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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