Enphase Energy (NASDAQ:ENPH) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to a buy rating in a research note released on Tuesday morning, BidAskClub reports.

ENPH has been the topic of a number of other research reports. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. B. Riley reaffirmed a buy rating and set a $21.00 target price on shares of Enphase Energy in a research note on Wednesday, June 12th. Raymond James reaffirmed a buy rating on shares of Cineplex in a research note on Tuesday, March 19th. Craig Hallum lifted their target price on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, HC Wainwright set a $35.00 target price on shares of Stemline Therapeutics and gave the company a buy rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $16.69.

Shares of Enphase Energy stock opened at $19.48 on Tuesday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -162.33 and a beta of 0.92. Enphase Energy has a 12-month low of $3.70 and a 12-month high of $20.67. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.42 and a current ratio of 1.52. The stock has a fifty day moving average price of $17.27.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $100.15 million during the quarter, compared to the consensus estimate of $92.26 million. Enphase Energy’s revenue was up 43.1% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. As a group, sell-side analysts expect that Enphase Energy will post 0.35 earnings per share for the current year.

In related news, VP David A. Ranhoff sold 63,516 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $14.62, for a total transaction of $928,603.92. Following the sale, the vice president now owns 790,517 shares of the company’s stock, valued at $11,557,358.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.46% of the company’s stock.

A number of large investors have recently bought and sold shares of ENPH. Rhumbline Advisers boosted its stake in Enphase Energy by 42.2% during the fourth quarter. Rhumbline Advisers now owns 125,315 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 37,169 shares in the last quarter. First Trust Advisors LP raised its holdings in Enphase Energy by 10.6% in the fourth quarter. First Trust Advisors LP now owns 301,067 shares of the semiconductor company’s stock worth $1,424,000 after buying an additional 28,754 shares during the last quarter. LPL Financial LLC purchased a new position in Enphase Energy in the fourth quarter worth about $66,000. BlackRock Inc. raised its holdings in Enphase Energy by 2.8% in the fourth quarter. BlackRock Inc. now owns 5,688,416 shares of the semiconductor company’s stock worth $26,907,000 after buying an additional 154,094 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Enphase Energy by 18.7% in the fourth quarter. Bank of New York Mellon Corp now owns 378,003 shares of the semiconductor company’s stock worth $1,788,000 after buying an additional 59,534 shares during the last quarter. 48.41% of the stock is currently 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.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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