Key Points
- Mandy Yang, Enphase Energy's EVP, sold 6,000 shares on Dec. 12 at an average price of $33.01 for a total of $198,060, reducing her stake by 8% to 68,987 shares (SEC filing disclosed).
- Enphase beat Q3 expectations with $0.90 EPS (vs. $0.60) and $410.4M revenue (up 7.8% YoY), but analyst sentiment is mixed-to-negative — the consensus rating is “Reduce” with an average price target of $39.75, and institutional investors own about 72.1% of the stock.
Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) EVP Mandy Yang sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. Following the sale, the executive vice president owned 68,987 shares in the company, valued at approximately $2,277,260.87. The trade was a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Enphase Energy Stock Performance
ENPH opened at $32.18 on Friday. The company has a 50 day simple moving average of $31.99 and a two-hundred day simple moving average of $36.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. The firm has a market cap of $4.21 billion, a P/E ratio of 22.19 and a beta of 1.43. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $76.90.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.60 by $0.30. The firm had revenue of $410.43 million for the quarter, compared to the consensus estimate of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The company's revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. Equities analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on ENPH. Jefferies Financial Group restated a "hold" rating and issued a $41.00 price objective on shares of Enphase Energy in a research report on Monday, September 29th. Morgan Stanley lowered their price target on Enphase Energy from $28.00 to $26.00 and set an "underweight" rating on the stock in a report on Thursday, October 30th. Evercore ISI set a $33.00 price target on Enphase Energy in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Enphase Energy in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $37.00 to $33.00 and set a "neutral" rating for the company in a research report on Monday, December 8th. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and thirteen have given a Sell rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of "Reduce" and an average price target of $39.75.
Check Out Our Latest Stock Report on Enphase Energy
Hedge Funds Weigh In On Enphase Energy
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Enphase Energy by 28.1% during the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company's stock valued at $267,387,000 after buying an additional 1,479,153 shares in the last quarter. Geode Capital Management LLC raised its position in Enphase Energy by 2.1% during the second quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company's stock valued at $140,217,000 after purchasing an additional 73,459 shares during the period. Coatue Management LLC raised its position in Enphase Energy by 95.3% during the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company's stock valued at $58,319,000 after purchasing an additional 803,945 shares during the period. Federated Hermes Inc. lifted its stake in shares of Enphase Energy by 9.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,619,109 shares of the semiconductor company's stock valued at $57,300,000 after purchasing an additional 141,358 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Enphase Energy by 827.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company's stock worth $45,698,000 after purchasing an additional 1,028,259 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.
About Enphase Energy
(
Get Free Report)
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
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