Oppenheimer Assigned a Hold Rating to Enphase EnergyBy Austin Angelo
In a report released yesterday, Colin Rusch from Oppenheimer assigned a Hold rating to Enphase Energy (NASDAQ: ENPH). The company’s shares closed yesterday at $1.01, close to its 52-week low of $0.98.
According to TipRanks.com, Rusch is a 4-star analyst with an average return of 6.8% and a 44.4% success rate. Rusch covers the Technology sector, focusing on stocks such as Trimble Navigation Limited, SolarEdge Technologies, and Ultra Clean Holdings.
Enphase Energy has an analyst consensus of Hold.
The company has a one year high of $4.50 and a one year low of $0.98. Currently, Enphase Energy has an average volume of 632.6K.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENPH in relation to earlier this year. Most recently, in September 2016, Benjamin John Kortlang, a Director at ENPH bought 600,000 shares for a total of $720,000.
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. The company was founded by Raghuveer R. Belur and Martin Fornage in March 2006 and is headquartered in Petaluma, CA.