Enphase Energy (NASDAQ:ENPH) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

ENPH has been the subject of several other reports. Cowen restated a “buy” rating and issued a $2.00 price objective on shares of Enphase Energy in a report on Sunday, September 24th. Craig Hallum restated a “buy” rating and issued a $4.00 price objective on shares of Enphase Energy in a report on Monday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. Finally, Zacks Investment Research lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $2.06.

Enphase Energy (NASDAQ:ENPH) remained flat at $$2.90 during trading on Friday. The stock had a trading volume of 976,940 shares, compared to its average volume of 1,569,785. The company has a debt-to-equity ratio of -4.75, a quick ratio of 1.30 and a current ratio of 1.59. Enphase Energy has a 12-month low of $0.65 and a 12-month high of $3.45.

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

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 40,677 shares of the stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $1.78 per share, for a total transaction of $72,405.06. Following the completion of the acquisition, the chief executive officer now owns 40,677 shares of the company’s stock, valued at $72,405.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Howard Weber sold 55,526 shares of Enphase Energy 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 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. Company insiders own 17.37% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Enphase Energy by 4.6% during the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 5,479 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Enphase Energy by 55.4% during the second quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 44,908 shares during the last quarter. KBC Group NV lifted its holdings in shares of Enphase Energy by 101.3% during the third quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 90,665 shares during the last quarter. K2 Principal Fund L.P. lifted its holdings in shares of Enphase Energy by 470.1% during the second quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 363,490 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Enphase Energy by 28.2% during the first quarter. Renaissance Technologies LLC now owns 523,033 shares of the semiconductor company’s stock valued at $717,000 after purchasing an additional 114,900 shares during the last quarter. Hedge funds and other institutional investors own 22.89% of the company’s stock.

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About Enphase Energy

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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