In a report released today, Colin Rusch from Oppenheimer assigned a Buy rating to Enphase Energy (ENPH), with a price target of $50.00. The company’s shares closed last Tuesday at $57.23.
According to TipRanks.com, Rusch is a top 100 analyst with an average return of 29.8% and a 57.2% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, SolarEdge Technologies, and Westport Fuel Systems.
Currently, the analyst consensus on Enphase Energy is a Moderate Buy with an average price target of $56.46, a -9.3% downside from current levels. In a report issued on July 27, Roth Capital also maintained a Buy rating on the stock with a $70.00 price target.
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Enphase Energy’s market cap is currently $7.17B and has a P/E ratio of 36.40. The company has a Price to Book ratio of 29.72.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENPH in relation to earlier this year.
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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 & Apps. The company was founded by Raghuveer R. Belur and Martin Fornage in March 2006 and is headquartered in Fremont, CA.