Enphase Energy (ENPH) Receives a Rating Update from a Top Analyst

In a report released today, Dave Kang from B.Riley FBR maintained a Hold rating on Enphase Energy (ENPH), with a price target of $41.00. The company’s shares closed last Tuesday at $44.37.

According to TipRanks.com, Kang is a top 100 analyst with an average return of 19.5% and a 64.6% success rate. Kang covers the Technology sector, focusing on stocks such as Applied Optoelectronics, DASAN Zhone Solutions, and Acacia Communications.

Currently, the analyst consensus on Enphase Energy is a Strong Buy with an average price target of $52.18, a 12.6% upside from current levels. In a report issued on May 4, Credit Suisse also maintained a Hold rating on the stock with a $40.00 price target.

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The company has a one-year high of $59.16 and a one-year low of $13.19. Currently, Enphase Energy has an average volume of 7.15M.

Based on the recent corporate insider activity of 51 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. Most recently, in March 2020, Benjamin John Kortlang, a Director at ENPH bought 27,428 shares for a total of $205,710.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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