Enphase Energy (NASDAQ:ENPH) received a $6.00 target price from equities research analysts at Cowen in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Cowen’s target price points to a potential upside of 36.99% from the company’s previous close.
A number of other brokerages have also weighed in on ENPH. B. Riley began coverage on shares of Enphase Energy in a report on Monday, March 26th. They issued a “buy” rating and a $6.00 price objective on the stock. Roth Capital set a $6.00 price objective on shares of Enphase Energy and gave the company a “buy” rating in a report on Thursday, March 22nd. BidaskClub lowered shares of Enphase Energy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 11th. Zacks Investment Research lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Oppenheimer reiterated a “buy” rating on shares of Enphase Energy in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Enphase Energy currently has a consensus rating of “Buy” and an average price target of $4.33.
Shares of ENPH opened at $4.38 on Wednesday. Enphase Energy has a twelve month low of $0.65 and a twelve month high of $5.58. The firm has a market capitalization of $427.40, a PE ratio of -8.11 and a beta of 0.37. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of -3.54.
Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 27th. The semiconductor company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $79.67 million during the quarter, compared to analyst estimates of $75.91 million. equities analysts expect that Enphase Energy will post -0.02 EPS for the current year.
In related news, CFO Humberto Garcia sold 16,375 shares of Enphase Energy stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $2.75, for a total transaction of $45,031.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman purchased 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average price of $3.32 per share, for a total transaction of $132,800.00. Following the completion of the purchase, the chief executive officer now directly owns 80,677 shares in the company, valued at $267,847.64. The disclosure for this purchase can be found here. Insiders have sold a total of 96,537 shares of company stock worth $351,934 over the last quarter. 13.52% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new position in Enphase Energy during the 4th quarter worth $517,000. Two Sigma Securities LLC purchased a new position in Enphase Energy during the 4th quarter worth $107,000. Goldman Sachs Group Inc. purchased a new position in Enphase Energy during the 4th quarter worth $128,000. Divisar Capital Management LLC grew its position in Enphase Energy by 28.1% during the 4th quarter. Divisar Capital Management LLC now owns 1,680,106 shares of the semiconductor company’s stock worth $4,049,000 after purchasing an additional 368,907 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Enphase Energy during the 4th quarter worth $302,000. Hedge funds and other institutional investors own 24.54% of the company’s stock.
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 electricity to alternating current (AC) electricity at the individual solar module level.
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