Enphase Energy (NASDAQ:ENPH) Posts Earnings Results, Beats Estimates By $0.19 EPS

Enphase Energy (NASDAQ:ENPH) posted its earnings results on Tuesday. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.19, FiscalAI reports. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%.

Enphase Energy Stock Up 2.2%

NASDAQ:ENPH traded up $0.80 during trading hours on Tuesday, hitting $37.27. The company’s stock had a trading volume of 7,258,721 shares, compared to its average volume of 6,550,628. Enphase Energy has a 52-week low of $25.77 and a 52-week high of $70.78. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $4.88 billion, a P/E ratio of 25.70 and a beta of 1.37. The stock has a fifty day moving average of $33.62 and a 200-day moving average of $34.43.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $30.69 per share, for a total transaction of $153,450.00. Following the acquisition, the chief executive officer owned 1,635,632 shares in the company, valued at $50,197,546.08. The trade was a 0.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total value of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. This trade represents a 7.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENPH. Danske Bank A S acquired a new stake in shares of Enphase Energy in the 3rd quarter worth $39,000. Gould Capital LLC raised its holdings in Enphase Energy by 93.3% during the third quarter. Gould Capital LLC now owns 36,462 shares of the semiconductor company’s stock worth $1,290,000 after purchasing an additional 17,599 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Enphase Energy by 109.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 156,102 shares of the semiconductor company’s stock valued at $5,626,000 after purchasing an additional 81,739 shares during the period. PharVision Advisers LLC purchased a new stake in Enphase Energy in the 3rd quarter valued at approximately $329,000. Finally, XTX Topco Ltd increased its position in Enphase Energy by 116.4% during the 3rd quarter. XTX Topco Ltd now owns 69,840 shares of the semiconductor company’s stock worth $2,472,000 after purchasing an additional 37,565 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENPH. Mizuho set a $38.00 price target on Enphase Energy in a research note on Thursday, January 29th. Morgan Stanley reduced their price target on shares of Enphase Energy from $28.00 to $26.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Enphase Energy in a report on Thursday, January 22nd. TD Cowen reduced their target price on shares of Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada dropped their price target on shares of Enphase Energy from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Reduce” and an average target price of $41.13.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.