Enphase Energy (NASDAQ:ENPH) received a $8.00 price target from equities researchers at B. Riley in a report released on Wednesday, September 12th. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price would suggest a potential upside of 77.38% from the company’s previous close.
A number of other brokerages have also commented on ENPH. Zacks Investment Research lowered Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub lowered Enphase Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. HC Wainwright set a $9.00 price target on Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, June 13th. Finally, ValuEngine lowered Enphase Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Enphase Energy currently has an average rating of “Buy” and an average price target of $7.21.
Shares of NASDAQ:ENPH traded down $0.13 during trading on Wednesday, reaching $4.51. 2,675,054 shares of the company traded hands, compared to its average volume of 2,654,113. The firm has a market cap of $469.71 million, a PE ratio of -8.35 and a beta of 0.30. Enphase Energy has a 52-week low of $1.24 and a 52-week high of $7.60. The company has a debt-to-equity ratio of -1.11, a quick ratio of 1.20 and a current ratio of 1.36.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $76.76 million. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company posted ($0.08) EPS. Research analysts predict that Enphase Energy will post -0.08 EPS for the current year.
In related news, CEO Badrinarayanan Kothandaraman acquired 15,000 shares of the stock in a transaction dated Monday, August 20th. The shares were purchased at an average cost of $4.88 per share, with a total value of $73,200.00. Following the transaction, the chief executive officer now directly owns 95,677 shares in the company, valued at $466,903.76. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eric Branderiz acquired 19,880 shares of the stock in a transaction dated Thursday, August 23rd. The shares were bought at an average cost of $5.03 per share, for a total transaction of $99,996.40. Following the completion of the transaction, the chief financial officer now owns 19,880 shares in the company, valued at $99,996.40. The disclosure for this purchase can be found here. Company insiders own 13.52% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Enphase Energy by 38.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,200 shares of the semiconductor company’s stock valued at $280,000 after acquiring an additional 17,100 shares during the period. KBC Group NV lifted its stake in shares of Enphase Energy by 57.7% during the 1st quarter. KBC Group NV now owns 90,973 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 33,279 shares during the last quarter. Northern Trust Corp increased its position in Enphase Energy by 13.5% during the 1st quarter. Northern Trust Corp now owns 157,113 shares of the semiconductor company’s stock valued at $718,000 after buying an additional 18,685 shares in the last quarter. Tibra Equities Europe Ltd acquired a new position in Enphase Energy during the 1st quarter valued at about $800,000. Finally, Citadel Advisors LLC increased its position in Enphase Energy by 344.3% during the 1st quarter. Citadel Advisors LLC now owns 93,167 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 72,198 shares in the last quarter. 39.17% 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 microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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