Enphase Energy Gets a Hold Rating from Roth Capital

By Austin Angelo

In a report released today, Philip Shen from Roth Capital reiterated a Hold rating on Enphase Energy (NASDAQ: ENPH), with a price target of $0.90. The company’s shares opened today at $0.82, close to its 52-week low of $0.65.

Shen observed:

“We expect ENPH to improve its profitability ahead on its new product introductions, though we believe achieving a 10% operating margin in Q4’18 could be challenged by slowing U.S. growth and increasing competition.”

According to TipRanks.com, Shen is ranked 0 out of 5 stars with an average return of -15.7% and a 26.8% success rate. Shen covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Orion Energy Systems, and Amer Superconductor.

Currently, the analyst consensus on Enphase Energy is Moderate Buy and the average price target is $1.48, representing an 80.5% upside.

In a report issued on June 20, Deutsche Bank also upgraded the stock to Hold with a $1 price target.

The company has a one year high of $2.30 and a one year low of $0.65. Currently, Enphase Energy has an average volume of 697.2K.

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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.,0735K2-E