Enphase Energy Inc. (NASDAQ:ENPH)‘s stock had its “neutral” rating reissued by stock analysts at Roth Capital in a note issued to investors on Friday. They presently have a $1.50 price target on the stock, down from their prior price target of $1.80. Roth Capital’s price objective points to a potential upside of 25.00% from the stock’s previous close.
Several other equities analysts have also recently weighed in on ENPH. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a research note on Monday, June 27th. Zacks Investment Research upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. restated a “hold” rating on shares of Enphase Energy in a research note on Friday, July 22nd. Canaccord Genuity reiterated a “hold” rating and set a $2.00 target price on shares of Enphase Energy in a research note on Thursday, August 4th. Finally, Deutsche Bank AG lowered their target price on Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Enphase Energy presently has an average rating of “Hold” and a consensus price target of $3.42.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 1.20 on Friday. The company’s 50-day moving average is $1.77 and its 200 day moving average is $2.08. Enphase Energy has a 52-week low of $1.16 and a 52-week high of $5.37. The company’s market cap is $56.09 million.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.30) earnings per share for the quarter, missing the 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 company had revenue of $79.20 million for the quarter, compared to the consensus estimate of $78.71 million. During the same quarter last year, the business posted $0.06 earnings per share. Enphase Energy’s revenue was down 22.4% on a year-over-year basis. On average, analysts anticipate that Enphase Energy will post ($1.06) EPS for the current year.
In other news, Director Benjamin John Kortlang acquired 600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The stock was bought at an average price of $1.20 per share, with a total value of $720,000.00. Following the acquisition, the director now owns 852,614 shares in the company, valued at approximately $1,023,136.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.42% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Menta Capital LLC raised its position in 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 last quarter. Guinness Asset Management Ltd raised its position in Enphase Energy by 50.0% in the second quarter. Guinness Asset Management Ltd now owns 83,400 shares of the company’s stock worth $166,000 after buying an additional 27,800 shares during the last quarter. Paloma Partners Management Co bought a new position in Enphase Energy during the second quarter worth $205,000. Geode Capital Management LLC raised its position in Enphase Energy by 22.8% in the first quarter. Geode Capital Management LLC now owns 186,624 shares of the company’s stock worth $434,000 after buying an additional 34,592 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc raised its position 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 worth $416,000 after buying an additional 62,300 shares during the last quarter. 29.54% of the stock is owned by institutional investors.
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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