Enphase Energy (ENPH) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to a buy rating in a research report report published on Friday, January 19th. The firm currently has $2.25 price objective on the semiconductor company’s stock.

According to Zacks, “Enphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California. “

ENPH has been the subject of several other reports. ValuEngine cut Enphase Energy from a sell rating to a strong sell rating in a report on Friday, December 1st. Needham & Company LLC reaffirmed a hold rating on shares of Enphase Energy in a research report on Tuesday, September 26th. Cowen reissued a buy rating and issued a $2.00 target price on shares of Enphase Energy in a research report on Sunday, September 24th. Finally, Craig Hallum reissued a buy rating and issued a $4.00 target price on shares of Enphase Energy in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Enphase Energy has a consensus rating of Hold and a consensus target price of $2.10.

Enphase Energy (NASDAQ:ENPH) traded up $0.01 on Friday, hitting $2.29. The stock had a trading volume of 1,131,976 shares, compared to its average volume of 892,631. The stock has a market cap of $196.75, a PE ratio of -3.14 and a beta of 1.36. Enphase Energy has a 1 year low of $0.65 and a 1 year high of $3.45. The company has a debt-to-equity ratio of -4.75, a current ratio of 1.59 and a quick ratio of 1.30.

In other Enphase Energy news, Director John Howard Weber sold 55,526 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $2.64, for a total transaction of $146,588.64. Following the sale, the director now directly owns 35,326 shares in the company, valued at approximately $93,260.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.37% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ENPH. Northern Trust Corp boosted its stake in shares of Enphase Energy by 4.6% in the 2nd quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after buying an additional 5,479 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Enphase Energy by 55.4% in the 2nd quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock worth $109,000 after buying an additional 44,908 shares during the last quarter. Monashee Investment Management LLC purchased a new position in shares of Enphase Energy in the 4th quarter worth $133,000. Engineers Gate Manager LP purchased a new position in shares of Enphase Energy in the 4th quarter worth $244,000. Finally, KBC Group NV boosted its stake 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 buying an additional 90,665 shares during the last quarter. Hedge funds and other institutional investors own 22.32% of the company’s stock.

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Enphase Energy Company Profile

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.

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