Enphase Energy (NASDAQ:ENPH) Now Covered by Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research report released on Monday, The Fly reports. The brokerage issued a buy rating on the semiconductor company’s stock.

A number of other research firms also recently issued reports on ENPH. ValuEngine downgraded shares of Enphase Energy from a hold rating to a sell rating in a report on Wednesday, October 2nd. Northland Securities set a $40.00 price objective on Enphase Energy and gave the stock a buy rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. began coverage on Enphase Energy in a research report on Monday, September 16th. They set an overweight rating and a $32.00 price objective on the stock. BidaskClub upgraded Enphase Energy from a hold rating to a buy rating in a research report on Thursday, November 28th. Finally, TheStreet cut Enphase Energy from a b- rating to a c+ rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $34.59.

ENPH stock opened at $22.07 on Monday. The company’s 50 day moving average is $21.26 and its 200 day moving average is $22.24. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -183.92 and a beta of 0.94. The company has a current ratio of 2.67, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. Enphase Energy has a 1-year low of $4.53 and a 1-year high of $35.42.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. Enphase Energy had a net margin of 8.92% and a return on equity of 62.77%. The business had revenue of $180.06 million during the quarter, compared to analyst estimates of $176.49 million. During the same period in the previous year, the business posted $0.04 earnings per share. Enphase Energy’s revenue for the quarter was up 130.8% on a year-over-year basis. As a group, sell-side analysts forecast that Enphase Energy will post 0.61 EPS for the current fiscal year.

In related news, COO Jeff Mcneil sold 7,500 shares of Enphase Energy stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $24.03, for a total value of $180,225.00. Following the sale, the chief operating officer now owns 312,738 shares in the company, valued at $7,515,094.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $24.75, for a total transaction of $247,500.00. Following the completion of the sale, the chief executive officer now directly owns 390,560 shares of the company’s stock, valued at $9,666,360. The disclosure for this sale can be found here. Insiders have sold a total of 62,500 shares of company stock valued at $1,378,565 in the last three months. 12.46% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of Enphase Energy by 31.2% during the second quarter. Commonwealth Equity Services LLC now owns 32,354 shares of the semiconductor company’s stock valued at $589,000 after buying an additional 7,689 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in Enphase Energy in the second quarter worth approximately $143,000. Steward Partners Investment Advisory LLC bought a new stake in Enphase Energy in the 2nd quarter worth approximately $54,000. Virginia Retirement Systems ET AL bought a new stake in Enphase Energy in the 2nd quarter worth approximately $625,000. Finally, SG Americas Securities LLC raised its stake in Enphase Energy by 209.8% during the 2nd quarter. SG Americas Securities LLC now owns 41,732 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 28,263 shares during the last quarter. Institutional investors own 44.72% 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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The Fly

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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