Enphase Energy Inc (NASDAQ:ENPH), a global energy technology company, has named technology industry veteran Mike Lewis as its new vice president of and general manager of U.S. and Canada sales.
Lewis will lead Enphase’s U.S. and Canadian sales and field marketing organizations, where he will oversee the development of new business opportunities and the customization of solutions to best meet customer needs.
“Mike is an experienced sales leader with a solid understanding of distribution and top tier accounts, and he has a great track record of developing strong customer and account relationships,” said Paul Nahi, president and CEO of Enphase Energy. “He will help strengthen our existing U.S. customer relationships and develop new strategic accounts as we continue to gain market share and execute on the global rollout of the Enphase Home Energy Solution.”
Lewis has more than 20 years of management and executive experience in high-technology sales and business development. Prior to joining Enphase, Lewis spent most of his career at Seagate Technology, advancing with increasing levels of responsibility through the sales organization to become senior director of global sales in 2013. He also held management positions at Imation and Datacore prior to Seagate. Lewis has a Bachelor of Science in management from Park Universityand a Master of Business Administration degree from Regis University.
“Enphase has cracked the code on a scalable, distributed, cloud-based architecture, making it the only company that can offer a truly optimized and integrated clean energy system. Microinverter technology is the future, because it’s not limited by the shortcomings of string inverters and their single point of failure,” said Lewis. “With a strong, growing installed base and a full pipeline of innovative products across the energy solution and management space, I am thrilled to be at Enphase as the company realizes the full potential of energy management systems.”
Lewis joins Enphase at a time of strong growth, with the second quarter of 2016 showing revenue up 24 percent quarter-over-quarter and megawatt shipments up 30 percent. The results came about through executing the strategy that was laid out last year: regaining market share by offering competitive pricing, while driving product cost reductions. Enphase will introduce its sixth-generation microinverter system along with its upcoming AC module products at the Solar Power International 2016 conference in Las Vegas. (Original Source)
Shares of Enphase Energy closed last Friday at $1.95, up $0.06 or 3.17%. ENPH has a 1-year high of $5.37 and a 1-year low of $1.63. The stock’s 50-day moving average is $1.87 and its 200-day moving average is $2.17.
On the ratings front, Enphase Energy has been the subject of a number of recent research reports. In a report issued on August 3, J.P. Morgan analyst Paul Coster reiterated a Hold rating on ENPH. Separately, on the same day, Oppenheimer’s Colin Rusch reiterated a Hold rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Paul Coster and Colin Rusch have a total average return of -5.2% and 8.0% respectively. Coster has a success rate of 47.5% and is ranked #3861 out of 4122 analysts, while Rusch has a success rate of 46.6% and is ranked #530.
The street is mostly Neutral on ENPH stock. Out of 5 analysts who cover the stock, 4 suggest a Hold rating and one recommends to Sell the stock.
Enphase Energy, Inc. delivers energy management solutions which advance the worldwide potential of renewable energy. Its semiconductor-based microinverter system converts direct current electricity to alternating current electricity at the individual solar module level, and brings a system-based, high technology approach to solar energy generation leveraging its design expertise across power electronics, semiconductors, networking, and cloud-based software technologies.