Enphase Energy Price Target Increased to $20.00 by Analysts at Roth Capital (ENPH)

 Source: ABMN   |   Publish date: Fri, 12 Sep 2014, 9:04 AM   |    >> Read article in News website

Research analysts at Roth Capital upped their price objective on shares of Enphase Energy (NASDAQ:ENPH) to $20.00 in a report released on Friday. Roth Capital’s price objective would suggest a potential upside of 18.91% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Enphase Energy from $12.00 to $20.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Northland Securities raised their price target on shares of Enphase Energy from $13.00 to $17.00 in a research note on Tuesday, August 26th. They now have an “outperform” rating on the stock. Finally, analysts at Needham & Company LLC initiated coverage on shares of Enphase Energy in a research note on Monday, August 25th. They set a “buy” rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.00.

In other Enphase Energy news, SVP Jeff Loebbaka unloaded 13,300 shares of Enphase Energy stock on the open market in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $14.55, for a total value of $193,515.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Enphase Energy (NASDAQ:ENPH) opened at 16.82 on Friday. Enphase Energy has a 1-year low of $4.54 and a 1-year high of $17.17. The stock has a 50-day moving average of $12. and a 200-day moving average of $9.48. The company’s market cap is $722.3 million. Enphase Energy also was the target of a large drop in short interest in the month of August. As of August 29th, there was short interest totalling 1,399,669 shares, a drop of 62.6% from the August 15th total of 3,744,953 shares. Based on an average daily trading volume, of 802,559 shares, the short-interest ratio is presently 1.7 days. Currently, 4.9% of the company’s shares are sold short.

Enphase Energy (NASDAQ:ENPH) last released its earnings data on Tuesday, August 5th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.01. The company had revenue of $82.00 million for the quarter, compared to the consensus estimate of $71.11 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 40.9% on a year-over-year basis. Analysts expect that Enphase Energy will post $0.04 EPS for the current fiscal year.

Enphase Energy, Inc (NASDAQ:ENPH), designs, develops and sells microinverter systems for the solar photovoltaic industry.

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  ENPH 160.89 +4.10 (2.61%) 3,596,000 

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