Enphase Energy (NASDAQ:ENPH) Lowered to Buy at BidaskClub

Enphase Energy (NASDAQ:ENPH) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, BidAskClub reports.

Other research analysts have also issued research reports about the company. Credit Suisse Group assumed coverage on Enphase Energy in a research report on Monday, March 25th. They set a “neutral” rating and a $10.00 price target for the company. Craig Hallum reiterated a “buy” rating and set a $17.00 price target (up previously from $10.00) on shares of Enphase Energy in a research report on Wednesday, May 1st. TheStreet upgraded Enphase Energy from a “c” rating to a “b-” rating in a research report on Tuesday, May 21st. Raymond James lowered Enphase Energy from a “market perform” rating to an “underperform” rating in a research report on Tuesday, March 19th. They noted that the move was a valuation call. Finally, 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 report on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.21.

Shares of ENPH stock opened at $17.08 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 4.63. Enphase Energy has a 1 year low of $3.70 and a 1 year high of $17.55. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -142.33 and a beta of 0.83.



Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The business had revenue of $100.15 million for the quarter, compared to analyst estimates of $92.26 million. During the same quarter last year, the firm posted ($0.01) EPS. The company’s revenue was up 43.1% compared to the same quarter last year. Equities analysts expect that Enphase Energy will post 0.36 EPS for the current year.

In other news, VP David A. Ranhoff sold 63,516 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $14.62, for a total value of $928,603.92. Following the completion of the sale, the vice president now owns 790,517 shares in the company, valued at $11,557,358.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eric Branderiz sold 30,935 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $8.88, for a total value of $274,702.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,561 shares of company stock valued at $1,222,613. Insiders own 12.46% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Marathon Capital Management raised its position in shares of Enphase Energy by 2.1% during the fourth quarter. Marathon Capital Management now owns 442,700 shares of the semiconductor company’s stock worth $2,093,000 after purchasing an additional 9,225 shares during the period. Westside Investment Management Inc. raised its position in shares of Enphase Energy by 28.4% during the fourth quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 1,986 shares during the period. Redmond Asset Management LLC acquired a new stake in shares of Enphase Energy during the first quarter worth $861,000. Two Sigma Advisers LP raised its position in shares of Enphase Energy by 0.6% during the fourth quarter. Two Sigma Advisers LP now owns 418,709 shares of the semiconductor company’s stock worth $1,980,000 after purchasing an additional 2,500 shares during the period. Finally, BlackRock Inc. raised 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 buying an additional 154,094 shares during the period. Institutional investors and hedge funds own 48.41% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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