Enphase Energy (NASDAQ:ENPH) received a $14.00 price target from stock analysts at Roth Capital in a note issued to investors on Thursday, March 21st, TipRanks reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective indicates a potential upside of 45.99% from the company’s current price.
ENPH has been the subject of several other reports. BidaskClub cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Cowen increased their target price on shares of Enphase Energy from $6.75 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, February 21st. HC Wainwright set a $9.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Tuesday, January 29th. ValuEngine raised shares of Enphase Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $9.56.
NASDAQ ENPH traded down $0.34 on Thursday, hitting $9.59. The company’s stock had a trading volume of 2,116,598 shares, compared to its average volume of 2,028,765. The company has a debt-to-equity ratio of 10.50, a quick ratio of 1.40 and a current ratio of 1.51. Enphase Energy has a 1-year low of $3.70 and a 1-year high of $10.36. The stock has a market cap of $1.09 billion, a P/E ratio of -79.92 and a beta of 1.45.
In other news, Director Richard Mora sold 70,000 shares of Enphase Energy stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $9.09, for a total value of $636,300.00. Following the completion of the transaction, the director now owns 109,788 shares in the company, valued at $997,972.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Branderiz bought 11,415 shares of Enphase Energy stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $8.77 per share, with a total value of $100,109.55. Following the purchase, the chief financial officer now directly owns 46,626 shares of the company’s stock, valued at $408,910.02. The disclosure for this purchase can be found here. In the last quarter, insiders sold 163,045 shares of company stock valued at $1,478,709. 13.52% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ENPH. Marathon Capital Management lifted its position in Enphase Energy by 2.1% during the fourth quarter. Marathon Capital Management now owns 442,700 shares of the semiconductor company’s stock valued at $2,093,000 after purchasing an additional 9,225 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Enphase Energy by 28.4% in the 4th quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 1,986 shares during the last quarter. Fisher Asset Management LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $102,000. Tenzing Global Management LLC lifted its holdings in shares of Enphase Energy by 25.0% in the 3rd quarter. Tenzing Global Management LLC now owns 3,750,000 shares of the semiconductor company’s stock worth $18,188,000 after acquiring an additional 750,000 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $123,000. Institutional investors own 42.15% of the company’s stock.
About Enphase Energy
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 (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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