Enphase Energy (NASDAQ:ENPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $2.25 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.38% from the company’s current price.

According to Zacks, “Enphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California. “

A number of other equities research analysts have also weighed in on ENPH. Needham & Company LLC reiterated a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. ValuEngine upgraded shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. Craig Hallum reiterated a “buy” rating and set a $4.00 price objective on shares of Enphase Energy in a report on Monday, November 20th. Finally, Cowen reiterated a “buy” rating and set a $2.00 price objective on shares of Enphase Energy in a report on Sunday, September 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Enphase Energy has an average rating of “Hold” and a consensus price target of $2.10.

Shares of Enphase Energy (NASDAQ:ENPH) traded up $0.01 on Friday, reaching $1.95. 1,313,390 shares of the company were exchanged, compared to its average volume of 848,600. Enphase Energy has a one year low of $0.65 and a one year high of $3.45. The company has a market cap of $158.66, a price-to-earnings ratio of -2.64 and a beta of 1.49. The company has a quick ratio of 1.30, a current ratio of 1.59 and a debt-to-equity ratio of -4.75.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. The company had revenue of $77.00 million during the quarter, compared to analyst estimates of $77.13 million. During the same quarter last year, the business posted ($0.28) EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. equities analysts predict that Enphase Energy will post -0.57 EPS for the current year.

In other Enphase Energy news, Director John Howard Weber sold 55,526 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $2.64, for a total transaction of $146,588.64. Following the transaction, the director now owns 35,326 shares of the company’s stock, valued at approximately $93,260.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 40,677 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $1.78 per share, for a total transaction of $72,405.06. Following the transaction, the chief executive officer now directly owns 40,677 shares in the company, valued at approximately $72,405.06. The disclosure for this purchase can be found here. Company insiders own 17.37% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp increased its position in Enphase Energy by 4.6% during the 2nd quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 5,479 shares during the period. First Trust Advisors LP increased its position in Enphase Energy by 55.4% during the 2nd quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 44,908 shares during the period. KBC Group NV increased its position in Enphase Energy by 101.3% during the 3rd quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 90,665 shares during the period. K2 Principal Fund L.P. increased its position in Enphase Energy by 470.1% during the 2nd quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 363,490 shares during the period. Finally, Wasatch Advisors Inc. increased its position in Enphase Energy by 197.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 753,789 shares of the semiconductor company’s stock valued at $1,146,000 after purchasing an additional 500,000 shares during the period. 22.88% of the stock is currently owned by institutional investors and hedge funds.

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About Enphase Energy

Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.

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