Enphase Energy’s (ENPH) Buy Rating Reiterated at Craig Hallum

Craig Hallum reissued their buy rating on shares of Enphase Energy, Inc. (NASDAQ:ENPH) in a report published on Monday, Marketbeat reports. Craig Hallum currently has a $4.00 price objective on the semiconductor company’s stock.

ENPH has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Enphase Energy from a hold rating to a sell rating in a report on Friday, August 11th. ValuEngine raised shares of Enphase Energy from a strong sell rating to a sell rating in a report on Wednesday, September 27th. Needham & Company LLC reissued a hold rating on shares of Enphase Energy in a report on Tuesday, September 26th. Finally, Cowen and Company reissued a buy rating and issued a $2.00 price target on shares of Enphase Energy in a report on Sunday, September 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $2.06.

Shares of Enphase Energy (NASDAQ:ENPH) opened at $2.81 on Monday. The company has a debt-to-equity ratio of -4.75, a quick ratio of 1.30 and a current ratio of 1.59. Enphase Energy has a fifty-two week low of $0.65 and a fifty-two week high of $3.19.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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. The business had revenue of $77.00 million during the quarter, compared to analyst estimates of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. Enphase Energy’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) earnings per share. analysts forecast that Enphase Energy will post -0.57 EPS for the current fiscal year.

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In other Enphase Energy news, Director John Howard Weber sold 55,526 shares of Enphase Energy stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $2.64, for a total transaction of $146,588.64. Following the completion of the sale, the director now owns 35,326 shares of the company’s stock, valued at approximately $93,260.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 40,677 shares of the stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $1.78 per share, with a total value of $72,405.06. Following the acquisition, 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. 17.37% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Northern Trust Corp boosted its position in shares of Enphase Energy by 4.6% during the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 5,479 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Enphase Energy by 55.4% during the second quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 44,908 shares in the last quarter. KBC Group NV boosted its position in shares of Enphase Energy by 101.3% during the third quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 90,665 shares in the last quarter. K2 Principal Fund L.P. boosted its position in shares of Enphase Energy by 470.1% during the second quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 363,490 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Enphase Energy by 28.2% during the first quarter. Renaissance Technologies LLC now owns 523,033 shares of the semiconductor company’s stock worth $717,000 after purchasing an additional 114,900 shares in the last quarter. 19.55% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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