Enphase Energy (NASDAQ:ENPH) Director Purchases 1,000 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was bought at an average cost of $30.59 per share, with a total value of $30,590.00. Following the completion of the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $61,180. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded up $2.49 on Tuesday, hitting $30.42. The company had a trading volume of 8,414,189 shares, compared to its average volume of 6,513,241. The company has a current ratio of 4.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.46. Enphase Energy, Inc. has a 52-week low of $23.83 and a 52-week high of $73.74. The business has a 50 day moving average of $33.41 and a 200 day moving average of $40.92. The company has a market cap of $4.02 billion, a PE ratio of 45.40 and a beta of 1.44.

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). The company had revenue of $293.33 million for the quarter, compared to analysts’ expectations of $304.59 million. Enphase Energy had a return on equity of 9.16% and a net margin of 7.49%. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ENPH shares. Wells Fargo & Company decreased their price target on shares of Enphase Energy from $44.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Evercore reissued a “positive” rating and issued a $41.00 price objective on shares of Enphase Energy in a research report on Monday, August 17th. TD Cowen reduced 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 note on Monday, July 20th. Craig Hallum set a $38.00 target price on shares of Enphase Energy in a research report on Wednesday, October 28th. Finally, Glj Research lowered their target price on shares of Enphase Energy from $24.47 to $21.49 and set a “sell” rating for the company in a research note on Monday, October 26th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.11.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Handelsbanken Fonder AB boosted its stake in Enphase Energy by 154.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after buying an additional 1,283,052 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Enphase Energy during the 2nd quarter valued at about $43,921,000. Legal & General Group Plc acquired a new position in shares of Enphase Energy during the 2nd quarter valued at about $39,128,000. Encompass Capital Advisors LLC acquired a new position in shares of Enphase Energy during the 1st quarter valued at about $27,234,000. Finally, Palo Duro Investment Partners LP purchased a new position in shares of Enphase Energy during the 2nd quarter worth about $32,665,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

More Enphase Energy News

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

• Positive Sentiment: Solar stocks rallied for a second session ahead of a busy stretch of industry earnings, lifting Enphase along with peers. The move appears largely sector-driven and partly reverses recent earnings-related losses. Solar-sector rebound
• Positive Sentiment: CEO Badrinarayanan Kothandaraman bought 10,000 shares for about $267,500 at an average price of $26.75, increasing his stake by 0.61%. The purchase may be viewed as a sign of confidence following the stock’s recent weakness. CEO share purchase
• Negative Sentiment: Analyst expectations have been reset lower: Enphase’s consensus price target was reported down 20.46% to $35.81, adding pressure after recent cuts to price targets and earnings estimates. Consensus price-target reduction
• Negative Sentiment: The latest quarterly report missed analyst estimates: EPS was $0.41 versus $0.51 expected, while revenue declined 28.5% year over year to $293.3 million and also fell short of consensus. Those results continue to weigh on the outlook despite the sector bounce.

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.