Shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Free Report) have been given an average rating of “Hold” by the twenty-three ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $44.16.
A number of research firms have recently weighed in on ENPH. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price target on shares of Enphase Energy in a research note on Monday. Mizuho reduced their price objective on shares of Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Royal Bank Of Canada decreased their price objective on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Enphase Energy in a research report on Friday, September 18th. Finally, Barclays raised shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $30.00 to $51.00 in a report on Thursday, June 18th.
View Our Latest Stock Report on ENPH
Enphase Energy Stock Performance
Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. During the same period in the prior year, the company earned $0.69 EPS. The company’s revenue was down 19.6% on a year-over-year basis. On average, equities analysts forecast that Enphase Energy will post 0.69 EPS for the current year.
Insiders Place Their Bets
In related news, Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the transaction, the director directly owned 11,922 shares of the company’s stock, valued at $438,252.72. This trade represents a 14.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.
Institutional Trading of Enphase Energy
A number of institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Enphase Energy during the 2nd quarter worth $364,000. Tidal Investments LLC boosted its position in shares of Enphase Energy by 75.1% in the 2nd quarter. Tidal Investments LLC now owns 39,360 shares of the semiconductor company’s stock worth $1,938,000 after buying an additional 16,883 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Enphase Energy in the 2nd quarter valued at about $8,670,000. GFG Capital LLC acquired a new stake in Enphase Energy in the 2nd quarter valued at about $208,000. Finally, Nykredit A S acquired a new stake in Enphase Energy in the 2nd quarter valued at about $260,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.
Enphase Energy Company Profile
Enphase Energy, Inc develops and manufactures energy technology for residential and commercial solar power systems. The company is best known for its microinverters, which convert electricity generated by individual solar panels from direct current into alternating current for use in homes and businesses or delivery to the electric grid.
Its product portfolio also includes battery storage systems, energy management and monitoring software, electric vehicle chargers, and related communications hardware.
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