Enphase Energy (NASDAQ:ENPH) Director Sells $44,940.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 700 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the completion of the transaction, the director owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. This represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, May 19th, Richard Mora sold 700 shares of Enphase Energy stock. The stock was sold at an average price of $46.39, for a total value of $32,473.00.

Enphase Energy Stock Down 0.9%

NASDAQ ENPH traded down $0.63 on Thursday, reaching $68.39. The company had a trading volume of 4,453,231 shares, compared to its average volume of 7,437,891. The firm has a market capitalization of $9.01 billion, a PE ratio of 67.71 and a beta of 1.60. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. The firm has a 50-day moving average of $43.08 and a 200-day moving average of $39.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same period in the prior year, the company posted $0.68 EPS. Enphase Energy’s quarterly revenue was down 20.6% on a year-over-year basis. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in Enphase Energy by 39.6% in the first quarter. Parallel Advisors LLC now owns 6,062 shares of the semiconductor company’s stock worth $229,000 after buying an additional 1,719 shares during the period. Western Wealth Management LLC acquired a new stake in Enphase Energy in the first quarter worth $151,000. Janus Henderson Group PLC increased its position in Enphase Energy by 124.3% in the first quarter. Janus Henderson Group PLC now owns 130,385 shares of the semiconductor company’s stock worth $4,931,000 after buying an additional 72,247 shares during the period. Centaurus Financial Inc. increased its position in Enphase Energy by 44.8% in the first quarter. Centaurus Financial Inc. now owns 6,988 shares of the semiconductor company’s stock worth $264,000 after buying an additional 2,161 shares during the period. Finally, California State Teachers Retirement System increased its position in Enphase Energy by 21.6% in the first quarter. California State Teachers Retirement System now owns 150,840 shares of the semiconductor company’s stock worth $5,703,000 after buying an additional 26,824 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their target price on Enphase Energy from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Glj Research set a $21.70 target price on Enphase Energy in a research report on Thursday, February 5th. Susquehanna cut their target price on Enphase Energy from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Evercore set a $37.00 target price on Enphase Energy in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their target price on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.24.

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.