All grid-tied inverters cut off power fed to the grid if the grid goes down. However, with central inverters, the DC lines from the rooftop to the central inverter is still hot and thus dangerous. Whereas with microinverters, the AC line from the roof to main panel is powered down. Thus microinverters are a bit safer.
One of the reasons I went with microinverters is that my local building department wanted a DC cut-off on the roof and that would have complicated my installation and add an ugly switch box up on the roof that is exposed to the elements.
Then other countries will follow this safety feature. Unlike the older side mounted inverters. Enphase Micro-inverters instant cut off of the power feed if grid power is lost. It is going to be required on every solar installation. Enphase is sitting perfectly for this new code being adopted, with little competition. Then add new tariffs on imports, that are not trusted for this safety feature like Enphase is. Talk to your local solar installer / supplier if you don't believe me. I did!
Sentiment: Strong Buy
with short shares at 3,721,634. Given the RECENT disastrous drop in commodities, currency, corporate bonds, select market segments like oil and banking, and imploding sovereign debt/inflation like Russia, Greece, the ME, etc... ENPH is looking very good as a "safe investment haven", and doing pretty well in SP recovery for the moment. That has to annoy and worry shorts! The panel manufacturers, including CSIQ, SPWR and FSLR, are struggling to even just get turned around and pointed in the right direction. ENPH isn't acting like a "good" short bet at all, as a matter of fact, over the course of this two week collapse. I'd bet short covering will begin again very soon for at least 7 trading days.
The fees will hit the bottom line in the current qtr. Then the next qtr could look golden. Its all based on revenue from here.
yeah, I could see that. Perhaps a panel manufacturer would like to buy the Pioneer and long-trusted brand maker of microinverters to make their panels plug & play with very simple 240VAC wiring. (Or 208VAC 3 phase wiring).
I also noticed this and see it as very bullish. It shows high confidence in future cash flow.
With their cash reserves and low debt, this move makes them an attractive takeover target.
To incur $618,000 in fees in doing so has to be viewed as a bullish move.
"Company has not drawn on the revolving credit facility and has no outstanding debt under any debt agreement"
Maybe they are setting up the books to attract GE to overpay for debt free company in the solar sector that has just became profitable:-)
They have been adding approximately 8000 new residential sites per month since July.
My enphase installation has been trouble free going into its 19th month of operation. Only some 23 years of warranty remaining:-)
Sentiment: Strong Buy
They must see plenty of cash flow ahead.Item 1.02. Termination of a Material Definitive Agreement.
On December 8, 2014, Enphase Energy, Inc. (the "Company") voluntarily paid off and terminated a Loan and Security Agreement ("Loan Agreement") dated November 7, 2012 with Hercules Technology Growth Capital, Inc. The payoff amount of $5,799,568.37 included principal, accrued and unpaid interest, fees, costs and expenses. The principal outstanding amount of the Loan and Security Agreement was $5,170,027.34, with a prepayment fee of $51,700.27, and a back-end fee of $566,280.00.
The Company retains its revolving credit facility with Wells Fargo Bank, National Association. As of December 11, 2014, the Company has not drawn on the revolving credit facility and has no outstanding debt under any debt agreement.
Gees, where have you been the past six weeks? ENPH volume has been in the toilet for three days (300,000 now with an hour left), and the hedge fund rats have all jumped ship. I'd call that capitulation. Big oil and banks are in for a very rough year as gas and loan demand will continue to drop over the next year. Money from big oil, banking, and corporate bond funds with rising yields will soon be pouring into equities for superior gains. There are also trillions on the sidelines that will be invested into growth companies in 2015. Next week we'll see upward market momentum return to solars. China's target GDP growth rate is 7%, still very sizeable. Greatly improved sales, earnings, distribution, and product line expansion are in works for ENPH right now. What's not to love about this market? Open your eyes to the near future please! JMO as always.
I thought the sector wouldd rally the most today but I guess not. Heck, even the biggest solar azzhole thinks that solar is unfairly beaten due to oil weakness.
Yeah, I really think that more & more people will install solar since it is a great hedge. You can lock in your electricity price for the next 25 years. Utilities are going to keep raising prices due to regulations, fuel costs, decommissioning costs, etc. And if you get a plug-in car (LEAF, Tesla, Volt, Energi, etc.) . . . it feels great to power your vehicle by the sun.
Despite the downward market pressure, ENPH's upswing is showing how damaging Briefing's erroneous earnings report was a month ago. False reports from Briefing triggered automated hedge fund "sells" by their AI computer news scanners reacting in nanoseconds.
I still like $15 by New Years, not only because of short positions, but many of the hedge funds that closed positions mid-Sept at end of quarter due to yearly timing, now want to get back into ENPH to capture sales gains next year.
To further Magoo's comments on Roth's re-affirmation "buy" and "$20" target, the following was also reported: "Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 4th. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Enphase Energy in a research note on Wednesday, November 5th. They now have an $18.00 price target on the stock, down previously from $20.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, November 5th. They now have a $13.00 price target on the stock, up previously from $12.00. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $16.63." Deutsche's $13 target was taken out today as the rest of the market collapses with commodities.
Disinflation is now a reality in the EU and headed for the US. The FED is pushing US banks to increase reserves to at least 20% by 2019. Electricity (not a commodity) is increasing in cost due to waste disposal of coal slack (eg. Duke Energy water pollution) and spent nuclear fuel rod disposal (eg. Exelon, et. al). Alternative energy is the new planetary fuel... green is the new black.
Sentiment: Strong Buy
ENPH had its "positive" rating reaffirmed by analysts at Roth Capital. They now have a $20.00 price target on the stock. 62.6% upside from the previous close of $12.30.
Indeed . . . the solar market is pretty much completely unrelated to the oil market. Virtually no oil is used to generate electricity and almost no solar is used to power transportation (planes, trains, trucks, cars, etc.). Cheap oil does not reduce your utility bill. In fact it has raised it because all the oil is hogging the rail lines such that utilities have to pay more for coal transportation.
I agree Magoo... ;-) We need a short squeeze while all these hedge fund managers are in the Bahama's over the holidays!
Sentiment: Strong Buy