Enphase Energy (NASDAQ:ENPH) CEO Badrinarayanan Kothandaraman Purchases 5,000 Shares

Enphase Energy, Inc. (NASDAQ:ENPH) CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This represents a 0.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Enphase Energy Price Performance

NASDAQ:ENPH traded up $2.87 during midday trading on Tuesday, hitting $66.90. The company had a trading volume of 11,622,728 shares, compared to its average volume of 9,546,571. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $68.90. The stock’s fifty day moving average price is $40.09 and its 200-day moving average price is $37.81. The company has a market capitalization of $8.82 billion, a PE ratio of 66.24 and a beta of 1.26. 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 (NASDAQ:ENPH) last announced its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.28 million. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, research analysts expect that Enphase Energy, Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup cut their price target on shares of Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Glj Research set a $21.70 price target on shares of Enphase Energy in a research report on Thursday, February 5th. Barclays cut their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, May 4th. Roth Mkm restated a “buy” rating on shares of Enphase Energy in a research report on Friday. Finally, Weiss Ratings upgraded shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC bought a new position in Enphase Energy during the 1st quarter valued at approximately $151,000. Janus Henderson Group PLC raised its position in Enphase Energy by 124.3% during the 1st quarter. Janus Henderson Group PLC now owns 130,385 shares of the semiconductor company’s stock valued at $4,931,000 after purchasing an additional 72,247 shares during the last quarter. Centaurus Financial Inc. raised its position in Enphase Energy by 44.8% during the 1st quarter. Centaurus Financial Inc. now owns 6,988 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 2,161 shares during the last quarter. California State Teachers Retirement System raised its position in Enphase Energy by 21.6% during the 1st quarter. California State Teachers Retirement System now owns 150,840 shares of the semiconductor company’s stock valued at $5,703,000 after purchasing an additional 26,824 shares during the last quarter. Finally, Electron Capital Partners LLC bought a new position in Enphase Energy during the 1st quarter valued at approximately $18,483,000. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.