Cowen and Company reiterated their buy rating on shares of Enphase Energy, Inc. (NASDAQ:ENPH) in a report released on Friday morning. The brokerage currently has a $2.25 price target on the semiconductor company’s stock.
A number of other research firms also recently commented on ENPH. Needham & Company LLC reaffirmed a hold rating on shares of Enphase Energy in a research note on Tuesday, September 26th. ValuEngine raised shares of Enphase Energy from a strong sell rating to a sell rating in a research note on Wednesday, September 27th. Finally, Zacks Investment Research downgraded shares of Enphase Energy from a hold rating to a sell rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $1.56.
Enphase Energy (NASDAQ ENPH) opened at $1.96 on Friday. Enphase Energy has a one year low of $0.65 and a one year high of $2.10. The company has a debt-to-equity ratio of -17.39, a quick ratio of 1.59 and a current ratio of 1.92.
Enphase Energy (NASDAQ:ENPH) last posted 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. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,975.02%. The company had revenue of $77.00 million during the quarter, compared to the consensus estimate of $77.13 million. During the same quarter in the prior year, the company posted ($0.28) EPS. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. sell-side analysts expect that Enphase Energy will post -0.57 earnings per share for the current fiscal year.
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In other news, CEO Badrinarayanan Kothandaraman bought 40,677 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $1.78 per share, for a total transaction of $72,405.06. Following the acquisition, the chief executive officer now owns 40,677 shares of the company’s stock, valued at $72,405.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.37% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Northern Trust Corp grew its holdings 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 period. First Trust Advisors LP grew its holdings 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 period. K2 Principal Fund L.P. grew its holdings in shares of Enphase Energy by 470.1% during the 2nd quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 363,490 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Enphase Energy by 28.2% during the 1st quarter. Renaissance Technologies LLC now owns 523,033 shares of the semiconductor company’s stock worth $717,000 after purchasing an additional 114,900 shares during the period. Finally, Wasatch Advisors Inc. grew its holdings in shares of Enphase Energy by 197.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 753,789 shares of the semiconductor company’s stock worth $1,146,000 after purchasing an additional 500,000 shares during the period. Institutional investors and hedge funds own 18.80% of the company’s stock.
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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