Enphase Energy (NASDAQ:ENPH) Shares Climb 9.3% After Insider Buying Activity

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) rose 9.3% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $27.84 and last traded at $28.0310. 1,125,611 shares traded hands during trading, a decline of 83% from the average session volume of 6,462,525 shares. The stock had previously closed at $25.65.

Specifically, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were acquired at an average cost of $26.75 per share, with a total value of $267,500.00. Following the completion of the acquisition, the chief executive officer owned 1,655,632 shares of the company’s stock, valued at $44,288,156. The trade was a 0.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ENPH shares. Mizuho set a $34.00 price target on Enphase Energy in a report on Wednesday, October 28th. Weiss Ratings lowered Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 28th. The Goldman Sachs Group dropped their price target on shares of Enphase Energy from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Citigroup cut their price objective on shares of Enphase Energy from $37.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Finally, 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 research report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $35.11.

Key Enphase Energy News

Here are the key news stories impacting Enphase Energy this week:

• Positive Sentiment: CEO Badrinarayanan Kothandaraman bought 10,000 shares for about $267,500, while Director Shanker Trivedi bought 1,000 shares for about $30,590. These purchases may signal confidence in the company after its recent share-price weakness. CEO SEC filing Director SEC filing
• Positive Sentiment: Enphase shares benefited from a second consecutive session of gains across solar stocks, as investors looked ahead to a busy slate of sector earnings. Solar-sector rebound coverage
• Negative Sentiment: Recent quarterly results disappointed: earnings per share of $0.41 missed the $0.51 consensus, revenue of $293.3 million fell short of expectations, and revenue declined 28.5% year over year. Analysts have also cut price targets, with the consensus target reportedly reduced by 20.46% to $35.81, reflecting concerns about the outlook. Consensus price-target report

Enphase Energy Trading Up 8.9%

The company has a current ratio of 4.09, a quick ratio of 3.56 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.02 billion, a PE ratio of 45.40 and a beta of 1.44. The stock has a 50 day moving average price of $33.28 and a 200-day moving average price of $40.89.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 27th. The semiconductor company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The firm had revenue of $293.33 million for the quarter, compared to analysts’ expectations of $304.59 million. During the same quarter last year, the company posted $0.90 EPS. The firm’s revenue was down 28.5% compared to the same quarter last year. Sell-side analysts expect that Enphase Energy, Inc. will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently made changes to their positions in the company. Candriam S.C.A. boosted its stake in shares of Enphase Energy by 52.3% in the third quarter. Candriam S.C.A. now owns 59,482 shares of the semiconductor company’s stock worth $1,969,000 after acquiring an additional 20,423 shares during the period. Kimelman & Baird LLC raised its stake in Enphase Energy by 6.1% during the 3rd quarter. Kimelman & Baird LLC now owns 217,434 shares of the semiconductor company’s stock valued at $7,173,000 after purchasing an additional 12,596 shares during the period. Alps Advisors Inc. raised its stake in Enphase Energy by 24.8% during the 3rd quarter. Alps Advisors Inc. now owns 193,301 shares of the semiconductor company’s stock valued at $6,377,000 after purchasing an additional 38,357 shares during the period. CenterBook Partners LP raised its stake in Enphase Energy by 85.0% during the 3rd quarter. CenterBook Partners LP now owns 59,468 shares of the semiconductor company’s stock valued at $1,962,000 after purchasing an additional 27,322 shares during the period. Finally, Compass Financial Management LLC purchased a new position in Enphase Energy in the 3rd quarter worth approximately $1,199,000. 72.12% of the stock is currently owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.