Enphase Energy (NASDAQ:ENPH) received a $40.00 price objective from investment analysts at Northland Securities in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Northland Securities’ price objective points to a potential upside of 81.16% from the stock’s current price.
A number of other brokerages have also commented on ENPH. Craig Hallum set a $31.00 price target on Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine lowered Enphase Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 5th. HC Wainwright raised Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, July 31st. Roth Capital raised their price target on Enphase Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, B. Riley reaffirmed a “buy” rating and issued a $21.00 price target on shares of Enphase Energy in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $33.85.
Shares of NASDAQ:ENPH traded down $0.12 during trading on Friday, reaching $22.08. 6,344,667 shares of the company traded hands, compared to its average volume of 5,859,752. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -184.00 and a beta of 0.88. Enphase Energy has a 52-week low of $3.70 and a 52-week high of $35.42. The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average is $28.84 and its 200-day moving average is $17.40.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The firm had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. Enphase Energy had a return on equity of 31.17% and a net margin of 2.63%. The business’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 earnings per share. On average, sell-side analysts predict that Enphase Energy will post 0.54 earnings per share for the current fiscal year.
In other Enphase Energy news, Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.03, for a total transaction of $1,861,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $24.75, for a total value of $247,500.00. Following the transaction, the chief executive officer now directly owns 390,560 shares of the company’s stock, valued at approximately $9,666,360. The disclosure for this sale can be found here. Insiders sold 107,500 shares of company stock valued at $3,174,900 in the last ninety days. 12.46% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in Enphase Energy by 0.8% during the first quarter. Rhumbline Advisers now owns 126,367 shares of the semiconductor company’s stock valued at $1,166,000 after buying an additional 1,052 shares during the period. Aperio Group LLC purchased a new position in Enphase Energy during the second quarter valued at $26,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Enphase Energy by 607.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,430 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Enphase Energy during the second quarter valued at $54,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Enphase Energy during the second quarter valued at $89,000. 43.38% of the stock is owned by institutional investors and hedge funds.
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.
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.