Enphase Energy (ENPH) Trading Down 6.7%

Enphase Energy, Inc. (NASDAQ:ENPH) dropped 6.7% on Friday . The company traded as low as $2.17 and last traded at $2.24. Approximately 810,846 shares were traded during trading, an increase of 3% from the average daily volume of 784,227 shares. The stock had previously closed at $2.40.

ENPH has been the topic of a number of research analyst reports. ValuEngine lowered shares of Enphase Energy from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Cowen reissued a “buy” rating and set a $2.25 price objective on shares of Enphase Energy in a report on Friday, November 10th. Craig Hallum reissued a “buy” rating and set a $4.00 price objective on shares of Enphase Energy in a report on Monday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $2.20.

The company has a debt-to-equity ratio of -4.75, a quick ratio of 1.30 and a current ratio of 1.59. The stock has a market cap of $190.08, a price-to-earnings ratio of -3.03 and a beta of 1.49.

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

In other Enphase Energy 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 sale, the director now directly owns 35,326 shares of the company’s stock, valued at $93,260.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 40,677 shares of the stock in a transaction on Thursday, November 9th. The stock was acquired at an average cost of $1.78 per share, for a total transaction of $72,405.06. Following the completion of the acquisition, the chief executive officer now owns 40,677 shares of the company’s stock, valued at approximately $72,405.06. The disclosure for this purchase can be found here. 15.92% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Tenzing Global Management LLC boosted its holdings in Enphase Energy by 600.0% in the third quarter. Tenzing Global Management LLC now owns 4,200,000 shares of the semiconductor company’s stock valued at $6,384,000 after purchasing an additional 3,600,000 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Enphase Energy by 55.1% in the third quarter. Old West Investment Management LLC now owns 1,619,108 shares of the semiconductor company’s stock worth $2,461,000 after acquiring an additional 575,453 shares during the period. KBC Group NV raised its position in shares of Enphase Energy by 101.3% in the third quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock worth $274,000 after acquiring an additional 90,665 shares during the period. K2 Principal Fund L.P. raised its position in shares of Enphase Energy by 14.9% in the third quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock worth $770,000 after acquiring an additional 65,760 shares during the period. Finally, Wasatch Advisors Inc. raised its position in shares of Enphase Energy by 197.0% in the third quarter. Wasatch Advisors Inc. now owns 753,789 shares of the semiconductor company’s stock worth $1,146,000 after acquiring an additional 500,000 shares during the period. 22.88% of the stock is currently owned by institutional investors.

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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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