ValuEngine Lowers Enphase Energy (ENPH) to Strong Sell

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

A number of other equities analysts have also recently commented on the stock. Craig Hallum reissued a buy rating and issued a $4.00 price target on shares of Enphase Energy in a research note on Monday, November 20th. Cowen reissued a buy rating and issued a $2.25 price target on shares of Enphase Energy in a research note on Friday, November 10th. Needham & Company LLC reissued a hold rating on shares of Enphase Energy in a research note on Tuesday, September 26th. Finally, Zacks Investment Research cut shares of Enphase Energy from a hold rating to a sell rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $2.06.

Enphase Energy (NASDAQ ENPH) remained flat at $$2.90 during trading on Friday. The company had a trading volume of 976,900 shares, compared to its average volume of 895,720. The company has a debt-to-equity ratio of -4.75, a quick ratio of 1.30 and a current ratio of 1.59. Enphase Energy has a 52-week low of $0.65 and a 52-week high of $3.45.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The business had revenue of $77.00 million for the quarter, compared to analyst estimates of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. Enphase Energy’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.28) EPS. analysts forecast that Enphase Energy will post -0.57 earnings per share for the current fiscal year.

In other news, Director John Howard Weber sold 55,526 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $2.64, for a total value of $146,588.64. Following the completion of the sale, the director now owns 35,326 shares of the company’s stock, valued at approximately $93,260.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 40,677 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $1.78 per share, with a total value of $72,405.06. Following the purchase, the chief executive officer now directly owns 40,677 shares in the company, valued at approximately $72,405.06. The disclosure for this purchase can be found here. 15.92% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. 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 valued at $108,000 after purchasing an additional 5,479 shares in 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 valued at $109,000 after purchasing an additional 44,908 shares in the last quarter. K2 Principal Fund L.P. boosted its stake in shares of Enphase Energy by 14.9% in the 3rd quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock valued at $770,000 after purchasing an additional 65,760 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Enphase Energy by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,939,428 shares of the semiconductor company’s stock valued at $1,678,000 after purchasing an additional 84,549 shares in the last quarter. 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 valued at $274,000 after purchasing an additional 90,665 shares in the last quarter. 22.89% of the stock is owned by institutional investors.

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About Enphase Energy

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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