Zacks Investment Research upgraded shares of Enphase Energy Inc. (NASDAQ:ENPH) from a hold rating to a buy rating in a report published on Monday morning. Zacks Investment Research currently has $1.25 price objective on the stock.

According to Zacks, “Enphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California. “

ENPH has been the subject of a number of other reports. Needham & Company LLC restated a hold rating on shares of Enphase Energy in a research note on Wednesday, August 31st. Canaccord Genuity restated a hold rating and set a $2.00 price objective on shares of Enphase Energy in a research note on Thursday, August 4th. JPMorgan Chase & Co. restated a hold rating on shares of Enphase Energy in a research note on Wednesday, August 3rd. Deutsche Bank AG lowered their price objective on Enphase Energy from $1.50 to $1.30 and set a sell rating for the company in a research note on Friday, September 23rd. Finally, Roth Capital restated a neutral rating and set a $1.50 price objective (down from $1.80) on shares of Enphase Energy in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Enphase Energy currently has an average rating of Hold and an average target price of $2.48.

Enphase Energy (NASDAQ:ENPH) opened at 1.12 on Monday. Enphase Energy has a 12 month low of $0.98 and a 12 month high of $4.50. The stock’s market cap is $69.34 million. The stock has a 50 day moving average price of $1.12 and a 200-day moving average price of $1.64.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, November 1st. The company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.04. Enphase Energy had a negative net margin of 23.54% and a negative return on equity of 294.30%. The firm earned $88.70 million during the quarter, compared to the consensus estimate of $89.69 million. During the same quarter last year, the firm posted $0.01 earnings per share. Enphase Energy’s revenue was down 13.8% compared to the same quarter last year. On average, analysts expect that Enphase Energy will post ($1.06) EPS for the current year.

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In other Enphase Energy news, Director Benjamin John Kortlang purchased 600,000 shares of Enphase Energy stock in a transaction on Friday, September 23rd. The stock was bought at an average price of $1.20 per share, for a total transaction of $720,000.00. Following the transaction, the director now owns 852,614 shares of the company’s stock, valued at approximately $1,023,136.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 25.42% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. KCG Holdings Inc. raised its position in shares of Enphase Energy by 530.7% in the third quarter. KCG Holdings Inc. now owns 121,938 shares of the company’s stock worth $144,000 after buying an additional 102,603 shares during the period. Espalier Global Management LLC acquired a new position in shares of Enphase Energy during the third quarter worth about $708,000. Granite Point Capital Management L.P. acquired a new position in shares of Enphase Energy during the third quarter worth about $944,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Enphase Energy by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 392,445 shares of the company’s stock worth $463,000 after buying an additional 6,905 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Enphase Energy during the second quarter worth about $205,000. Institutional investors own 24.83% of the company’s stock.

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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