Enphase Energy (NASDAQ:ENPH) Downgraded by BidaskClub

BidaskClub lowered shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

A number of other research analysts have also recently weighed in on ENPH. Craig Hallum set a $31.00 target price on shares of Enphase Energy and gave the company a buy rating in a research note on Wednesday, July 31st. Oppenheimer increased their price target on Enphase Energy from $13.00 to $26.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. ValuEngine cut Enphase Energy from a strong-buy rating to a buy rating in a report on Thursday, September 5th. Roth Capital boosted their price objective on Enphase Energy from $17.00 to $23.00 and gave the company a buy rating in a research report on Monday, July 29th. Finally, Northland Securities boosted their price objective on Enphase Energy from $28.00 to $40.00 and gave the company an outperform rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Enphase Energy presently has a consensus rating of Buy and a consensus target price of $33.85.

Shares of NASDAQ:ENPH opened at $23.28 on Friday. The stock has a 50 day moving average of $28.70 and a 200 day moving average of $17.24. The company has a market cap of $3.10 billion, a PE ratio of -194.00 and a beta of 0.88. Enphase Energy has a 12-month low of $3.70 and a 12-month high of $35.42. The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85.



Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.09. The business had revenue of $134.09 million for the quarter, compared to the consensus estimate of $120.36 million. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The company’s revenue for the quarter was up 76.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Equities research analysts predict that Enphase Energy will post 0.54 earnings per share for the current fiscal year.

In other news, Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $31.03, for a total transaction of $1,861,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David A. Ranhoff sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $29.25, for a total value of $877,500.00. Following the transaction, the vice president now owns 767,297 shares of the company’s stock, valued at approximately $22,443,437.25. The disclosure for this sale can be found here. Insiders own 12.46% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Aperio Group LLC purchased a new stake in Enphase Energy during the second quarter valued at $26,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Enphase Energy by 607.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,430 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Enphase Energy in the 2nd quarter valued at about $54,000. Meeder Asset Management Inc. bought a new position in shares of Enphase Energy in the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC bought a new position in shares of Enphase Energy in the 1st quarter valued at about $124,000. 43.38% of the stock is currently owned by hedge funds and other institutional investors.

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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