TheStreet upgraded shares of Enphase Energy (NASDAQ:ENPH) from a c rating to a b- rating in a report published on Tuesday, May 21st, TheStreetRatingsTable reports.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Enphase Energy from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Friday, March 1st. Credit Suisse Group started coverage on Enphase Energy in a research note on Monday, March 25th. They set a neutral rating and a $10.00 price target for the company. BidaskClub raised Enphase Energy from a buy rating to a strong-buy rating in a research note on Thursday, February 28th. Craig Hallum reissued a buy rating and issued a $17.00 price objective (up from $10.00) on shares of Enphase Energy in a research note on Wednesday, May 1st. Finally, ValuEngine raised Enphase Energy from a buy rating to a strong-buy rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $13.21.
NASDAQ:ENPH traded down $0.18 during mid-day trading on Tuesday, reaching $17.33. 2,621,336 shares of the stock were exchanged, compared to its average volume of 2,454,489. 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 $17.68. The firm has a market cap of $1.88 billion, a P/E ratio of -144.42 and a beta of 0.83.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $100.15 million during the quarter, compared to analyst estimates of $92.26 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. Sell-side analysts expect that Enphase Energy will post 0.36 EPS for the current year.
In related news, VP David A. Ranhoff sold 63,516 shares of the business’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 sale, the vice president now owns 790,517 shares of the company’s stock, valued at approximately $11,557,358.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Eric Branderiz sold 30,935 shares of the business’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. Insiders have sold a total of 96,561 shares of company stock worth $1,222,613 in the last three months. 12.46% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Marathon Capital Management boosted its stake in Enphase Energy by 2.1% in 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 in the last quarter. 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 acquiring an additional 1,986 shares during the last quarter. Fisher Asset Management LLC bought a new stake in shares of Enphase Energy during the fourth quarter worth $102,000. Redmond Asset Management LLC bought a new stake in shares of Enphase Energy during the first quarter worth $861,000. Finally, 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 acquiring an additional 2,500 shares during the last quarter. 48.41% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Put Option Volume
Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.