RBC Capital Remains a Buy on Enphase Energy (ENPH)

RBC Capital analyst Chris Dendrinos maintained a Buy rating on Enphase Energy on April 10 and set a price target of $54.00. The company’s shares closed yesterday at $31.19.

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According to TipRanks, Dendrinos is a 5-star analyst with an average return of 53.1% and a 54.19% success rate. Dendrinos covers the Technology sector, focusing on stocks such as First Solar, Enphase Energy, and SolarEdge Technologies.

In addition to RBC Capital, Enphase Energy also received a Buy from Roth MKM’s Philip Shen in a report issued on April 9. However, on the same day, Susquehanna maintained a Hold rating on Enphase Energy (NASDAQ: ENPH).

Based on Enphase Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $343.32 million and a net profit of $38.71 million. In comparison, last year the company earned a revenue of $382.71 million and had a net profit of $62.16 million

Based on the recent corporate insider activity of 27 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. Last month, Thurman Rodgers, a Director at ENPH sold 137,250.00 shares for a total of $5,985,472.50.