Enphase Energy (ENPH) Lifted to “Buy” at Zacks Investment Research

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 brokerage presently has a $2.25 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.38% from the company’s current price.

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. “

ENPH has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Enphase Energy in a research note on Tuesday, September 26th. Craig Hallum reiterated a “buy” rating and issued a $4.00 price target on shares of Enphase Energy in a research note on Monday, November 20th. Cowen restated a “buy” rating and issued a $2.25 price objective on shares of Enphase Energy in a report on Friday, November 10th. Finally, ValuEngine upgraded 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 given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $2.10.

Shares of Enphase Energy (NASDAQ:ENPH) traded up $0.01 during mid-day trading on Friday, hitting $1.95. The company had a trading volume of 1,313,390 shares, compared to its average volume of 848,600. The company has a current ratio of 1.59, a quick ratio of 1.30 and a debt-to-equity ratio of -4.75. The company has a market capitalization of $158.66, a PE ratio of -2.64 and a beta of 1.49. Enphase Energy has a fifty-two week low of $0.65 and a fifty-two week high of $3.45.

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

In other news, Director John Howard Weber sold 55,526 shares of the stock in a transaction dated 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 approximately $93,260.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 40,677 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were bought at an average cost of $1.78 per share, for a total transaction of $72,405.06. Following the transaction, the chief executive officer now directly owns 40,677 shares in the company, valued at $72,405.06. The disclosure for this purchase can be found here. 17.37% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. K2 Principal Fund L.P. bought a new position in Enphase Energy in the 1st quarter valued at about $106,000. Northern Trust Corp increased its stake in shares of Enphase Energy by 4.6% during the 2nd quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 5,479 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Enphase Energy by 55.4% during the 2nd quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 44,908 shares during the last quarter. KBC Group NV increased its stake in shares of Enphase Energy by 40.8% during the 1st quarter. KBC Group NV now owns 89,472 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 25,926 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Enphase Energy during the 1st quarter worth approximately $124,000. 22.88% of the stock is currently owned by institutional investors and hedge funds.

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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.

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