Enphase Energy Inc. (NASDAQ:ENPH) had its price objective decreased by equities research analysts at Deutsche Bank AG from $1.50 to $1.30 in a research note issued on Friday. The firm currently has a “sell” rating on the stock. Deutsche Bank AG’s price target points to a potential downside of 22.16% from the company’s previous close.
ENPH has been the topic of several other research reports. JPMorgan Chase & Co. restated 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. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 31st. Finally, Canaccord Genuity restated a “hold” rating and issued a $2.00 target price on shares of Enphase Energy in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.51.
Enphase Energy (NASDAQ:ENPH) traded down 25.449% during trading on Friday, hitting $1.245. 4,171,568 shares of the stock traded hands. Enphase Energy has a 52 week low of $1.16 and a 52 week high of $5.37. The stock’s market cap is $58.20 million. The firm’s 50-day moving average is $1.79 and its 200 day moving average is $2.09.
Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. Enphase Energy had a negative net margin of 16.25% and a negative return on equity of 149.67%. The firm earned $79.20 million during the quarter, compared to analyst estimates of $78.71 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. Equities research analysts forecast that Enphase Energy will post ($1.08) earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC boosted its stake in shares of Enphase Energy by 767.4% in the first quarter. Spark Investment Management LLC now owns 615,851 shares of the company’s stock valued at $1,434,000 after buying an additional 544,851 shares in the last quarter. Kleinwort Benson Investors Dublin Ltd purchased a new stake in shares of Enphase Energy during the second quarter valued at $1,064,000. Robecosam AG boosted its stake in shares of Enphase Energy by 8.5% in the first quarter. Robecosam AG now owns 1,720,000 shares of the company’s stock valued at $3,939,000 after buying an additional 135,000 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Enphase Energy during the second quarter valued at $205,000. Finally, Delta Lloyd NV boosted its stake in shares of 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. 29.54% of the stock is owned by hedge funds and other institutional investors.
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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