Enphase Energy (ENPH) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright began coverage on shares of Enphase Energy (NASDAQ:ENPH) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $8.00 target price on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on ENPH. Zacks Investment Research raised Enphase Energy from a hold rating to a buy rating and set a $5.00 price target on the stock in a research note on Friday, May 4th. ValuEngine raised Enphase Energy from a sell rating to a hold rating in a research note on Friday, May 11th. Oppenheimer lifted their price target on Enphase Energy from $4.00 to $6.00 and gave the stock an outperform rating in a research note on Wednesday, May 2nd. Cowen set a $6.00 price target on Enphase Energy and gave the stock a buy rating in a research note on Wednesday, April 25th. Finally, Roth Capital set a $6.00 price target on Enphase Energy and gave the stock a buy rating in a research note on Monday, April 16th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Enphase Energy has an average rating of Buy and a consensus price target of $5.25.

Shares of Enphase Energy opened at $5.34 on Wednesday, according to Marketbeat Ratings. The stock has a market capitalization of $535.57 million, a P/E ratio of -9.89 and a beta of 0.37. Enphase Energy has a 1-year low of $0.70 and a 1-year high of $6.04. The company has a debt-to-equity ratio of -1.17, a quick ratio of 1.25 and a current ratio of 1.43.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $70.00 million during the quarter, compared to analysts’ expectations of $67.06 million. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) EPS. equities analysts forecast that Enphase Energy will post -0.02 EPS for the current year.

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 40,000 shares of the stock in a transaction on Thursday, March 1st. The shares were bought at an average price of $3.32 per share, with a total value of $132,800.00. Following the purchase, the chief executive officer now directly owns 80,677 shares in the company, valued at approximately $267,847.64. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Howard Weber sold 77,551 shares of Enphase Energy stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $3.88, for a total value of $300,897.88. Following the transaction, the director now directly owns 27,763 shares in the company, valued at approximately $107,720.44. The disclosure for this sale can be found here. Insiders own 13.52% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. grew its stake in Enphase Energy by 20.0% during the 1st quarter. Wasatch Advisors Inc. now owns 300,000 shares of the semiconductor company’s stock valued at $1,371,000 after acquiring an additional 50,000 shares in the last quarter. EAM Investors LLC purchased a new position in Enphase Energy during the 4th quarter valued at about $2,086,000. Engineers Gate Manager LP purchased a new position in Enphase Energy during the 4th quarter valued at about $244,000. Royce & Associates LP purchased a new position in Enphase Energy during the 4th quarter valued at about $1,533,000. Finally, Monashee Investment Management LLC purchased a new position in Enphase Energy during the 4th quarter valued at about $133,000. 24.77% of the stock is currently owned by institutional investors.

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 electricity to alternating current (AC) electricity at the individual solar module level.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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