Enphase Energy Inc (ENPH) Given Consensus Rating of “Buy” by Analysts

Enphase Energy Inc (NASDAQ:ENPH) has been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.56.

Several research firms have recently weighed in on ENPH. Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Friday, March 1st. Credit Suisse Group began coverage on Enphase Energy in a research note on Monday, March 25th. They issued a “neutral” rating and a $10.00 price target for the company. BidaskClub upgraded Enphase Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 28th. Cowen boosted their price target on Enphase Energy from $6.75 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, February 21st. Finally, Roth Capital set a $14.00 price target on Enphase Energy and gave the stock a “buy” rating in a research note on Thursday, March 21st.

In related news, Director Richard Mora sold 70,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $9.09, for a total transaction of $636,300.00. Following the completion of the sale, the director now owns 109,788 shares in the company, valued at $997,972.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David A. Ranhoff sold 60,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.14, for a total value of $548,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,045 shares of company stock valued at $1,478,709. 13.52% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Enphase Energy by 2.8% during the fourth quarter. BlackRock Inc. now owns 5,688,416 shares of the semiconductor company’s stock valued at $26,907,000 after acquiring an additional 154,094 shares during the last quarter. Park West Asset Management LLC increased its position in Enphase Energy by 18.8% during the fourth quarter. Park West Asset Management LLC now owns 4,487,779 shares of the semiconductor company’s stock valued at $21,227,000 after acquiring an additional 709,870 shares during the last quarter. Vanguard Group Inc. increased its position in Enphase Energy by 13.1% during the third quarter. Vanguard Group Inc. now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after acquiring an additional 479,564 shares during the last quarter. Vanguard Group Inc grew its holdings in Enphase Energy by 13.1% during the third quarter. Vanguard Group Inc now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after purchasing an additional 479,564 shares during the period. Finally, Tenzing Global Management LLC grew its holdings in Enphase Energy by 0.7% during the fourth quarter. Tenzing Global Management LLC now owns 3,775,000 shares of the semiconductor company’s stock valued at $17,856,000 after purchasing an additional 25,000 shares during the period. Institutional investors own 42.15% of the company’s stock.

ENPH stock opened at $9.59 on Tuesday. Enphase Energy has a 1-year low of $3.70 and a 1-year high of $10.36. The company has a debt-to-equity ratio of 10.50, a current ratio of 1.51 and a quick ratio of 1.40. The firm has a market capitalization of $1.09 billion, a PE ratio of -79.92 and a beta of 1.45.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 26th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.02). The firm had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $85.40 million. During the same period in the prior year, the company earned $0.01 EPS. Enphase Energy’s revenue was up 15.7% on a year-over-year basis. As a group, research analysts anticipate that Enphase Energy will post 0.21 EPS for the current fiscal year.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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