Enphase Energy Sees Unusually Large Options Volume (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) was the recipient of unusually large options trading activity on Monday. Investors purchased 28,915 call options on the company. This represents an increase of 33% compared to the typical daily volume of 21,790 call options.

Enphase Energy Trading Up 8.9%

NASDAQ ENPH opened at $30.42 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.09 and a quick ratio of 3.56. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 45.40 and a beta of 1.44. Enphase Energy has a one year low of $23.83 and a one year high of $73.74. The business’s fifty day moving average is $33.28 and its 200-day moving average is $40.89.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share 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 company had revenue of $293.33 million for the quarter, compared to the consensus estimate of $304.59 million. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was down 28.5% on a year-over-year basis. Equities research analysts predict that Enphase Energy will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ENPH shares. Jefferies Financial Group set a $30.00 target price on Enphase Energy in a research report on Thursday, October 29th. Wells Fargo & Company lowered their price objective on Enphase Energy from $44.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Roth Capital downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Wednesday, October 28th. Oppenheimer lowered Enphase Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 28th. Finally, Citigroup reduced their price objective on shares of Enphase Energy from $37.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.11.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the completion of the transaction, the director owned 10,422 shares of the company’s stock, valued at approximately $420,631.92. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $30.59 per share, with a total value of $30,590.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at $61,180. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its position in shares of Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. First Trust Advisors LP raised its stake in Enphase Energy by 42.4% in the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock valued at $69,359,000 after purchasing an additional 546,460 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Enphase Energy by 37.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,157 shares of the semiconductor company’s stock valued at $51,459,000 after purchasing an additional 373,212 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Enphase Energy during the second quarter valued at approximately $43,921,000. Finally, Principal Financial Group Inc. lifted its position in Enphase Energy by 79.2% during the first quarter. Principal Financial Group Inc. now owns 1,112,067 shares of the semiconductor company’s stock valued at $42,047,000 after purchasing an additional 491,488 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

More 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, and director Shanker Trivedi bought 1,000 shares for about $30,590. The purchases may bolster confidence following the stock’s recent decline. CEO SEC filing Director SEC filing
• Positive Sentiment: Enphase participated in a second consecutive session of gains across solar stocks as investors looked toward a busy earnings calendar. The sector rebound helped lift the shares. Solar sector rebound
• Negative Sentiment: Recent quarterly results missed expectations: EPS was $0.41 versus $0.51 expected, revenue was $293.3 million versus $304.6 million expected, and revenue declined 28.5% year over year. Analyst price-target and earnings-estimate cuts, including a reported 20.46% reduction in the consensus target to $35.81, underscore concerns about the outlook. Consensus target reduction

Enphase Energy Company Profile

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.