Enphase Energy (NASDAQ:ENPH) Director Acquires $53,910.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at $53,910. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Enphase Energy Stock Performance

Enphase Energy stock opened at $47.78 on Thursday. The stock has a 50-day simple moving average of $46.46 and a 200 day simple moving average of $41.33. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 47.31 and a beta of 1.60.

Enphase Energy (NASDAQ:ENPH) last released its quarterly 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 business had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. During the same period in the previous year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, research analysts anticipate that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ENPH. Wells Fargo & Company cut their price target on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. UBS Group set a $85.00 price target on Enphase Energy in a report on Friday, May 22nd. Morgan Stanley set a $27.00 price target on Enphase Energy in a report on Friday, May 8th. Evercore set a $37.00 price target on Enphase Energy in a report on Monday, May 4th. Finally, Weiss Ratings cut Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.70.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Norges Bank bought a new stake in Enphase Energy during the 4th quarter worth about $118,190,000. Invesco Ltd. raised its holdings in Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after purchasing an additional 839,468 shares during the last quarter. Sora Investors LLC bought a new stake in Enphase Energy during the 4th quarter worth about $25,998,000. Coatue Management LLC raised its holdings in Enphase Energy by 95.3% during the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after purchasing an additional 803,945 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Enphase Energy by 2,335.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock worth $28,244,000 after purchasing an additional 765,322 shares during the last quarter. 72.12% of the stock is owned by 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.