B.Riley FBR analyst Carter Driscoll assigned a Buy rating to Enphase Energy (NASDAQ: ENPH) on June 4 and set a price target of $6. The company’s shares closed yesterday at $5.62, close to its 52-week high of $6.37.
Driscoll wrote:
“We believe that the transition should proceed smoothly and that Mr. Branderiz will continue the lead ENPH in the right direction toward profitability and sustainable growth.”
According to TipRanks.com, Driscoll is ranked 0 out of 5 stars with an average return of -8.2% and a 33.1% success rate. Driscoll covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Plug Power, and Aemetis.
Enphase Energy has an analyst consensus of Strong Buy, with a price target consensus of $6.30.
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Based on Enphase Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.13 million. In comparison, last year the company had a GAAP net loss of $23.31 million.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, John Howard Weber, a Director at ENPH sold 77,551 shares for a total of $300,122.
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Enphase Energy, Inc. engages in the design, development, manufacture, and sale of microinverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories, and Enlighten and Apps.
