Enphase Energy (NASDAQ:ENPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $2.75 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 22.77% from the stock’s previous close.

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. “

Other analysts also recently issued research reports about the stock. Craig Hallum reiterated a “buy” rating and issued a $4.00 price objective on shares of Enphase Energy in a report on Monday, November 20th. Cowen reiterated a “buy” rating and issued a $2.25 price objective on shares of Enphase Energy in a report on Friday, November 10th. Needham & Company LLC reiterated a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. Finally, ValuEngine upgraded shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $2.20.

Enphase Energy (NASDAQ:ENPH) traded down $0.16 on Friday, hitting $2.24. 810,846 shares of the company traded hands, compared to its average volume of 784,222. Enphase Energy has a 52-week low of $0.65 and a 52-week high of $3.45. The company has a debt-to-equity ratio of -4.75, a quick ratio of 1.30 and a current ratio of 1.59. The firm has a market cap of $190.08, a P/E ratio of -3.03 and a beta of 1.49.

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

In other news, CEO Badrinarayanan Kothandaraman purchased 40,677 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $1.78 per share, with a total value of $72,405.06. Following the purchase, the chief executive officer now directly owns 40,677 shares in the company, valued at approximately $72,405.06. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Howard Weber sold 55,526 shares of the 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 completion of the sale, the director now directly owns 35,326 shares of the company’s stock, valued at approximately $93,260.64. The disclosure for this sale can be found here. Corporate insiders own 15.92% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp grew its stake in shares of Enphase Energy by 4.6% in the 2nd quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 5,479 shares during the period. First Trust Advisors LP grew its stake in shares of Enphase Energy by 55.4% in the 2nd quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 44,908 shares during the period. K2 Principal Fund L.P. grew its stake in shares of Enphase Energy by 14.9% in the 3rd quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock valued at $770,000 after buying an additional 65,760 shares during the period. Vanguard Group Inc. grew its stake in shares of Enphase Energy by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,939,428 shares of the semiconductor company’s stock valued at $1,678,000 after buying an additional 84,549 shares during the period. Finally, KBC Group NV grew its stake in shares of Enphase Energy by 101.3% in the 3rd quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock valued at $274,000 after buying an additional 90,665 shares during the period. 22.88% of the stock is owned by institutional investors and hedge funds.

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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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