Enphase Energy (NASDAQ:ENPH) Director Sells $60,540.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.36, for a total transaction of $60,540.00. Following the transaction, the director owned 10,422 shares of the company’s stock, valued at $420,631.92. This represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Richard Mora also recently made the following trade(s):

• On Thursday, July 30th, Richard Mora sold 2,000 shares of Enphase Energy stock. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00.
• On Monday, June 1st, Richard Mora sold 700 shares of Enphase Energy stock. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00.
• On Tuesday, May 19th, Richard Mora sold 700 shares of Enphase Energy stock. The shares were sold at an average price of $46.39, for a total transaction of $32,473.00.

Enphase Energy Price Performance

ENPH stock opened at $40.48 on Monday. The company has a market capitalization of $5.35 billion, a P/E ratio of 40.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $73.74. The business has a 50-day simple moving average of $44.38 and a two-hundred day simple moving average of $44.10.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The business’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. Research analysts expect that Enphase Energy, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ENPH shares. Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $30.00 to $51.00 in a research report on Thursday, June 18th. TD Cowen cut their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Roth Capital reiterated a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. The Goldman Sachs Group increased their target price on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company dropped their price target on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.61.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter. Activest Wealth Management increased its position in shares of Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,040 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Enphase Energy during the 1st quarter valued at $33,000. Burnham & Co LLC bought a new stake in shares of Enphase Energy during the 2nd quarter worth $34,000. Finally, Danske Bank A S purchased a new position in shares of Enphase Energy in the 3rd quarter worth about $39,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.