Man Group plc Acquires New Stake in Enphase Energy, Inc. $ENPH

Man Group plc bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 170,337 shares of the semiconductor company’s stock, valued at approximately $8,387,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of 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 valued at $25,000 after buying an additional 514 shares during the period. Burnham & Co LLC bought a new position in shares of Enphase Energy during the second quarter worth about $34,000. Ascentis Independent Advisors acquired a new position in shares of Enphase Energy in the first quarter worth approximately $33,000. Allworth Financial LP acquired a new position in shares of Enphase Energy in the second quarter worth approximately $46,000. Finally, FNY Investment Advisers LLC bought a new stake in Enphase Energy in the second quarter valued at approximately $48,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENPH. Wells Fargo & Company decreased their target price on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. BMO Capital Markets reduced their price objective on shares of Enphase Energy from $39.00 to $37.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 29th. UBS Group set a $56.00 price objective on shares of Enphase Energy in a research report on Wednesday, July 29th. TD Cowen lowered their target price on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Finally, Morgan Stanley set a $27.00 target price on shares of Enphase Energy in a research note on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.79.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $37.25 on Friday. The firm has a 50 day moving average of $41.51 and a 200-day moving average of $43.81. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 37.25 and a beta of 1.64. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (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 analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm’s revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS. On average, equities analysts forecast that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the company’s 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 in the company, valued at approximately $420,631.92. This represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 4,200 shares of company stock valued at $179,000. Insiders own 2.90% of the company’s stock.

Enphase Energy 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.