Needham Sticks to Its Hold Rating for Enphase Energy

By Ryan Adsit

Needham analyst Edwin Mok reiterated a Hold rating on Enphase Energy (NASDAQ: ENPH) yesterday. The company’s shares opened today at $1.34.

According to TipRanks.com, Mok is a 5-star analyst with an average return of 14.8% and a 65.7% success rate. Mok covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, SolarEdge Technologies, and Axcelis Technologies.

Enphase Energy has an analyst consensus of Moderate Buy, with a price target consensus of $1.63.

The company has a one year high of $2.03 and a one year low of $0.65. Currently, Enphase Energy has an average volume of 776.8K.

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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.