Enphase Energy, Inc. (ENPH) Receives Consensus Recommendation of “Hold” from Analysts
Enphase Energy, Inc. (NASDAQ:ENPH) has received a consensus rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.10.
A number of analysts have weighed in on the company. Zacks Investment Research lowered Enphase Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Roth Capital set a $1.00 target price on Enphase Energy and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Deutsche Bank AG upgraded Enphase Energy from a “sell” rating to a “hold” rating and set a $1.00 target price on the stock in a research note on Tuesday, June 20th. Craig Hallum set a $2.00 price target on Enphase Energy and gave the company a “buy” rating in a research note on Monday, June 12th. Finally, ValuEngine lowered Enphase Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd.
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Several institutional investors have recently made changes to their positions in ENPH. K2 Principal Fund L.P. purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $106,000. Northern Trust Corp raised its position in shares of Enphase Energy by 4.6% in the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 5,479 shares in the last quarter. First Trust Advisors LP raised its position in shares of Enphase Energy by 55.4% in the second quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 44,908 shares in the last quarter. KBC Group NV raised its position in shares of Enphase Energy by 40.8% in the first quarter. KBC Group NV now owns 89,472 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 25,926 shares in the last quarter. Finally, Trellus Management Company LLC purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $171,000. Hedge funds and other institutional investors own 19.78% of the company’s stock.
Enphase Energy (NASDAQ:ENPH) traded down 1.87% during midday trading on Wednesday, hitting $0.92. 398,730 shares of the stock were exchanged. Enphase Energy has a 1-year low of $0.65 and a 1-year high of $2.03. The stock’s market cap is $77.81 million. The company’s 50 day moving average is $0.87 and its 200-day moving average is $1.08.
Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, August 8th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. Enphase Energy had a negative return on equity of 1,232.10% and a negative net margin of 21.81%. The business had revenue of $74.70 million during the quarter, compared to analysts’ expectations of $74.48 million. During the same quarter in the previous year, the business earned ($0.30) EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts expect that Enphase Energy will post ($0.31) earnings per share for the current year.
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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