Enphase Energy, Inc. (NASDAQ:ENPH) shares reached a new 52-week high during trading on Monday . The stock traded as high as $2.28 and last traded at $1.96, with a volume of 1900300 shares changing hands. The stock had previously closed at $1.83.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Needham & Company LLC reissued a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. Cowen and Company reissued a “buy” rating and set a $2.25 price objective on shares of Enphase Energy in a report on Friday, November 10th. Finally, ValuEngine raised shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $1.56.
The company has a current ratio of 1.59, a quick ratio of 1.30 and a debt-to-equity ratio of -4.75.
Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) EPS. sell-side analysts forecast that Enphase Energy, Inc. will post -0.57 earnings per share for the current year.
In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 40,677 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were purchased 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 owns 40,677 shares of the company’s stock, valued at $72,405.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.92% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Tenzing Global Management LLC raised its position in Enphase Energy by 600.0% in the 3rd quarter. Tenzing Global Management LLC now owns 4,200,000 shares of the semiconductor company’s stock worth $6,384,000 after purchasing an additional 3,600,000 shares during the period. Vanguard Group Inc. raised its position in Enphase Energy by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,939,428 shares of the semiconductor company’s stock worth $1,678,000 after purchasing an additional 84,549 shares during the period. Goldman Sachs Group Inc. raised its position in Enphase Energy by 10,872.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,846,393 shares of the semiconductor company’s stock worth $1,597,000 after purchasing an additional 1,829,566 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in Enphase Energy by 119.2% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,672,927 shares of the semiconductor company’s stock worth $2,543,000 after purchasing an additional 909,801 shares during the period. Finally, Old West Investment Management LLC raised its position in Enphase Energy by 55.1% in the 3rd quarter. Old West Investment Management LLC now owns 1,619,108 shares of the semiconductor company’s stock worth $2,461,000 after purchasing an additional 575,453 shares during the period. 19.87% of the stock is currently 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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