BidaskClub Downgrades Enphase Energy (ENPH) to Strong Sell

BidaskClub downgraded shares of Enphase Energy (NASDAQ:ENPH) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

Other analysts have also recently issued research reports about the stock. B. Riley set a $8.00 price objective on shares of Enphase Energy and gave the stock a buy rating in a research note on Wednesday, September 12th. Zacks Investment Research raised shares of Enphase Energy from a hold rating to a buy rating and set a $8.00 price objective on the stock in a research note on Tuesday, July 3rd. HC Wainwright reissued a buy rating and issued a $9.00 price objective on shares of Enphase Energy in a research note on Wednesday, August 1st. Finally, ValuEngine raised shares of Enphase Energy from a sell rating to a hold rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $7.21.

NASDAQ ENPH opened at $4.15 on Friday. The firm has a market cap of $405.80 million, a price-to-earnings ratio of -7.69 and a beta of 0.30. Enphase Energy has a fifty-two week low of $1.37 and a fifty-two week high of $7.60.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $75.90 million during the quarter, compared to the consensus estimate of $76.76 million. During the same period in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Enphase Energy will post -0.08 EPS for the current year.

In other news, CFO Eric Branderiz bought 19,880 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $5.03 per share, for a total transaction of $99,996.40. Following the completion of the acquisition, the chief financial officer now directly owns 19,880 shares in the company, valued at $99,996.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average price of $4.88 per share, for a total transaction of $73,200.00. Following the acquisition, the chief executive officer now owns 95,677 shares of the company’s stock, valued at $466,903.76. The disclosure for this purchase can be found here. Insiders own 13.52% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new position in Enphase Energy in the second quarter valued at $115,000. SG Americas Securities LLC acquired a new position in Enphase Energy in the second quarter valued at $121,000. PEAK6 Investments L.P. acquired a new position in Enphase Energy in the second quarter valued at $193,000. Verition Fund Management LLC acquired a new position in Enphase Energy in the first quarter valued at $131,000. Finally, Jane Street Group LLC acquired a new position in Enphase Energy in the first quarter valued at $133,000. Institutional investors and hedge funds own 39.27% of the company’s stock.

Enphase Energy Company Profile

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.

Read More: Diversification For Individual Investors

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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

Leave a Reply