Enphase Energy, Inc. (ENPH) Trading Up 8.6%

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price was up 8.6% during trading on Tuesday . The stock traded as high as $2.81 and last traded at $2.78. Approximately 1,041,705 shares were traded during trading, an increase of 19% from the average daily volume of 873,568 shares. The stock had previously closed at $2.56.

Several equities analysts recently commented on ENPH shares. Cowen and Company reaffirmed a “buy” rating and set a $2.00 price objective on shares of Enphase Energy in a research note on Sunday, September 24th. Craig Hallum reaffirmed a “buy” rating and set a $4.00 price objective on shares of Enphase Energy in a research note on Monday. ValuEngine raised shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Enphase Energy in a research note on Tuesday, September 26th. Finally, Zacks Investment Research cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.06.

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 released its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $77.13 million. During the same quarter in the previous year, the company earned ($0.28) EPS. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. equities analysts predict that Enphase Energy, Inc. will post -0.57 EPS for the current year.

In related news, CEO Badrinarayanan Kothandaraman purchased 40,677 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was acquired at an average price of $1.78 per share, with a total value of $72,405.06. Following the purchase, the chief executive officer now directly owns 40,677 shares in the company, valued at $72,405.06. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.92% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Tenzing Global Management LLC grew its stake in Enphase Energy by 600.0% in the 3rd quarter. Tenzing Global Management LLC now owns 4,200,000 shares of the semiconductor company’s stock worth $6,384,000 after buying an additional 3,600,000 shares in the last quarter. Old West Investment Management LLC lifted its holdings in shares of Enphase Energy by 55.1% in the 3rd quarter. Old West Investment Management LLC now owns 1,619,108 shares of the semiconductor company’s stock worth $2,461,000 after acquiring an additional 575,453 shares during the last quarter. KBC Group NV lifted its holdings in shares of Enphase Energy by 101.3% in the 3rd quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock worth $274,000 after acquiring an additional 90,665 shares during the last quarter. K2 Principal Fund L.P. lifted its holdings in shares of Enphase Energy by 14.9% in the 3rd quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock worth $770,000 after acquiring an additional 65,760 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its holdings in shares of Enphase Energy by 197.0% in the 3rd quarter. Wasatch Advisors Inc. now owns 753,789 shares of the semiconductor company’s stock worth $1,146,000 after acquiring an additional 500,000 shares during the last quarter. 19.55% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://sportsperspectives.com/2017/11/21/enphase-energy-inc-enph-trading-up-8-6.html.

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.

Receive News & Ratings for Enphase Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply