Insider Buying: Enphase Energy, Inc. (ENPH) CEO Acquires $72,405.06 in Stock
Enphase Energy, Inc. (NASDAQ:ENPH) CEO Badrinarayanan Kothandaraman purchased 40,677 shares of Enphase Energy stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $1.78 per share, with a total value of $72,405.06. Following the transaction, the chief executive officer now directly owns 40,677 shares in the company, valued at approximately $72,405.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Enphase Energy, Inc. (ENPH) opened at $1.96 on Friday. Enphase Energy, Inc. has a 12 month low of $0.65 and a 12 month high of $2.10. The company has a debt-to-equity ratio of -17.39, a quick ratio of 1.59 and a current ratio of 1.92.
Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. Enphase Energy had a negative return on equity of 1,975.02% and a negative net margin of 18.66%. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $77.13 million. During the same quarter in the previous year, the business earned ($0.28) EPS. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. sell-side analysts predict that Enphase Energy, Inc. will post -0.57 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Enphase Energy by 28.2% in the 1st quarter. Renaissance Technologies LLC now owns 523,033 shares of the semiconductor company’s stock worth $717,000 after buying an additional 114,900 shares in the last quarter. Divisar Capital Management LLC raised its stake in shares of Enphase Energy by 11.8% in the 2nd quarter. Divisar Capital Management LLC now owns 1,131,297 shares of the semiconductor company’s stock worth $979,000 after buying an additional 119,459 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enphase Energy by 10,872.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,846,393 shares of the semiconductor company’s stock worth $1,597,000 after buying an additional 1,829,566 shares in the last quarter. K2 Principal Fund L.P. raised its stake in shares of Enphase Energy by 470.1% in the 2nd quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock worth $381,000 after buying an additional 363,490 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Enphase Energy by 55.4% in the 2nd quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock worth $109,000 after buying an additional 44,908 shares in the last quarter. 18.80% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on ENPH shares. Cowen and Company reiterated a “buy” rating and set a $2.00 price target on shares of Enphase Energy in a research report on Sunday, September 24th. ValuEngine upgraded Enphase Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. Needham & Company LLC reiterated a “hold” rating on shares of Enphase Energy in a research report on Tuesday, September 26th. Finally, Zacks Investment Research lowered Enphase Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $1.56.
About Enphase Energy
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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