Enphase Energy Inc. (NASDAQ:ENPH)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report issued on Friday.
Other research analysts have also issued reports about the stock. Canaccord Genuity restated a “hold” rating and issued a $2.00 price objective on shares of Enphase Energy in a research note on Thursday, August 4th. 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. Finally, Deutsche Bank AG lowered their target price on shares of Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $3.42.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.20 on Friday. The firm has a 50-day moving average of $1.75 and a 200 day moving average of $2.05. Enphase Energy has a 12-month low of $1.16 and a 12-month high of $5.37. The stock’s market capitalization is $56.09 million.
Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.03. The business earned $79.20 million during the quarter, compared to analyst estimates of $78.71 million. Enphase Energy had a negative net margin of 16.25% and a negative return on equity of 149.67%. The company’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities analysts forecast that Enphase Energy will post ($1.06) earnings per share for the current fiscal year.
In related news, Director Benjamin John Kortlang bought 600,000 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was bought at an average cost of $1.20 per share, with a total value of $720,000.00. Following the completion of the acquisition, the director now owns 852,614 shares in the company, valued at approximately $1,023,136.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 25.42% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Menta Capital LLC boosted its position in shares of Enphase Energy by 100.7% in the first quarter. Menta Capital LLC now owns 83,092 shares of the company’s stock worth $194,000 after buying an additional 41,699 shares during the period. Spark Investment Management LLC raised its stake in 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. Geode Capital Management LLC raised its stake in Enphase Energy by 22.8% in the first quarter. Geode Capital Management LLC now owns 186,624 shares of the company’s stock valued at $434,000 after buying an additional 34,592 shares in the last quarter. Robecosam AG raised its stake in 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. Finally, Guinness Atkinson Asset Management Inc raised its stake in Enphase Energy by 42.5% in the second quarter. Guinness Atkinson Asset Management Inc now owns 208,900 shares of the company’s stock valued at $416,000 after buying an additional 62,300 shares in the last quarter. 29.54% of the stock is owned by 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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