Enphase Energy (NASDAQ:ENPH) has been assigned a $30.00 target price by research analysts at Roth Capital in a report released on Friday, TipRanks reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective would indicate a potential upside of 17.92% from the company’s previous close.
ENPH has been the subject of a number of other research reports. Oppenheimer increased their price target on shares of Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. assumed coverage on shares of Enphase Energy in a research note on Monday, September 16th. They set an “overweight” rating and a $32.00 price target for the company. Zacks Investment Research cut shares of Enphase Energy from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a research note on Tuesday, October 1st. Deutsche Bank upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $100.00 to $120.00 in a research note on Wednesday, July 31st. Finally, Craig Hallum set a $31.00 price target on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Enphase Energy presently has a consensus rating of “Hold” and an average price target of $34.59.
NASDAQ:ENPH traded up $0.89 during trading hours on Friday, reaching $25.44. 5,677,185 shares of the company’s stock were exchanged, compared to its average volume of 3,542,517. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -212.00 and a beta of 0.85. The company has a 50-day moving average of $24.20 and a 200 day moving average of $20.58. The company has a quick ratio of 2.30, a current ratio of 2.44 and a debt-to-equity ratio of 0.85. Enphase Energy has a 1-year low of $4.06 and a 1-year high of $35.42.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09. The firm had revenue of $134.09 million during the quarter, compared to analysts’ expectations of $120.36 million. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. Enphase Energy’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. Research analysts forecast that Enphase Energy will post 0.55 EPS for the current fiscal year.
In other news, Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $31.03, for a total value of $1,861,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeff Mcneil sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $24.03, for a total transaction of $180,225.00. Following the completion of the sale, the chief operating officer now owns 312,738 shares of the company’s stock, valued at approximately $7,515,094.14. The disclosure for this sale can be found here. Insiders sold a total of 125,000 shares of company stock valued at $3,592,325 in the last 90 days. Company insiders own 12.46% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ENPH. Alps Advisors Inc. increased its holdings in shares of Enphase Energy by 106.9% in the 2nd quarter. Alps Advisors Inc. now owns 148,820 shares of the semiconductor company’s stock valued at $2,713,000 after purchasing an additional 76,899 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Enphase Energy by 116.8% in the 2nd quarter. LPL Financial LLC now owns 85,497 shares of the semiconductor company’s stock valued at $1,559,000 after purchasing an additional 46,057 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Enphase Energy by 45.4% in the 2nd quarter. Bank of America Corp DE now owns 81,566 shares of the semiconductor company’s stock valued at $1,487,000 after purchasing an additional 25,475 shares in the last quarter. Atika Capital Management LLC purchased a new position in shares of Enphase Energy in the 2nd quarter valued at about $5,468,000. Finally, Castleark Management LLC purchased a new position in shares of Enphase Energy in the 2nd quarter valued at about $6,320,000. Institutional investors own 43.42% of the company’s stock.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
Further Reading: How to execute a trade ex-dividend strategy?
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.