#1 - Endphase Energy (NASDAQ:ENPH)
Enphase Energy (ENPH) Year-to-date gain = 60%
The business model for Enphase Energy (NASDAQ:ENPH) is deceptively simple, but extremely necessary. The renewable energy company provides inverters that convert direct current (DC) to alternating current (AC). For the uninitiated, when power is generated using wind or solar it is converted to direct current. However, the U.S. electrical grid (as well as all homes and businesses) use alternating current.
Enphase inverters convert the direct current to alternating current so it can be used. As simple as it may sound, ENPH doesn’t have a lot of competitors in the field. This gives it a significant moat in both national and international markets. ENPH stock is up over 60% for the year. But analysts believe the stock has more room to grow. The consensus price target is over $52 a share, which gives the stock a gain of over 12% from current levels.
Recent analyst reviews suggest the stock may be in danger of falling demand in the energy sector. However, as the economy re-opens, it’s likely that demand will increase. The company reports earnings on May 5, so investors should pay close attention to the company’s guidance.
Enphase Energy is a recent addition to the select S&P Mid Cap 400 Index. The company has a market cap of over $6 billion.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
Read More - Current Price
- $114.32
- Consensus Rating
- Hold
- Ratings Breakdown
- 16 Buy Ratings, 13 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $133.45 (16.7% Upside)
