Trading Report: The Enphase Energy Inc. (ENPH) Scheduled to Post Quarterly Earnings on Tuesday

The Enphase Energy Inc. (ENPH) Scheduled to Post Quarterly Earnings on Tuesday

Enphase Energy Inc. (NASDAQ:ENPH) will post its Q316 quarterly earnings results on Tuesday, November 1st. Analysts expect Enphase Energy to post earnings of ($0.24) per share and revenue of $89.69 million for the quarter.

Shares of Enphase Energy Inc. (NASDAQ:ENPH) opened at 1.07 on Monday. The company’s market capitalization is $50.02 million. The firm’s 50-day moving average price is $1.28 and its 200-day moving average price is $1.83. Enphase Energy Inc. has a 12-month low of $1.02 and a 12-month high of $4.50.

In other news, Director Benjamin John Kortlang bought 600,000 shares of the stock in a transaction dated Friday, September 23rd. The shares were acquired at an average cost of $1.20 per share, with a total value of $720,000.00. Following the purchase, the director now directly owns 852,614 shares in the company, valued at approximately $1,023,136.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 25.42% of the company’s stock.

A hedge fund recently raised its stake in Enphase Energy stock. Menta Capital LLC boosted its stake in Enphase Energy Inc. (NASDAQ:ENPH) by 98.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,064 shares of the company’s stock after buying an additional 81,972 shares during the period. Menta Capital LLC owned approximately 0.35% of Enphase Energy worth $328,000 as of its most recent filing with the SEC. Institutional investors own 23.08% of the company’s stock.

A number of brokerages have recently issued reports on ENPH. Zacks Investment Research raised Enphase Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Enphase Energy in a research report on Friday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of Enphase Energy in a research report on Wednesday, August 31st. Canaccord Genuity reissued a “hold” rating and issued a $2.00 target price on shares of Enphase Energy in a research report on Thursday, August 4th. Finally, Deutsche Bank AG cut their target price on Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a research report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.42.

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