Key Points
- Enphase Energy director Richard Mora sold 700 shares on May 19 at an average price of $46.39, totaling about $32,473. After the sale, he still owned 14,622 shares, a 4.57% reduction in his stake.
- The company recently beat quarterly earnings estimates, reporting EPS of $0.47 versus expectations of $0.43, while revenue came in slightly above forecasts at $282.9 million. However, revenue was still down 20.6% year over year.
- Wall Street remains cautious overall, with analysts assigning Enphase a consensus rating of “Hold” and a consensus price target of $40.94, even as some firms raised or trimmed their targets and ratings.
Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) Director Richard Mora sold 700 shares of the firm's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $46.39, for a total transaction of $32,473.00. Following the completion of the transaction, the director owned 14,622 shares in the company, valued at $678,314.58. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Enphase Energy Stock Up 17.3%
Enphase Energy stock opened at $62.34 on Friday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 61.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $63.28. The firm has a fifty day moving average price of $38.79 and a two-hundred day moving average price of $37.08.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. The company had revenue of $282.90 million during the quarter, compared to analysts' expectations of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business's quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, analysts forecast that Enphase Energy, Inc. will post 0.84 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Weiss Ratings raised Enphase Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Enphase Energy from $39.00 to $40.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Citigroup lowered their price objective on shares of Enphase Energy from $37.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 29th. Finally, Roth Mkm reiterated a "buy" rating on shares of Enphase Energy in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $40.94.
Check Out Our Latest Analysis on Enphase Energy
More Enphase Energy News
Here are the key news stories impacting Enphase Energy this week:
Institutional Trading of Enphase Energy
A number of hedge funds have recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 350 shares in the last quarter. Stance Capital LLC bought a new position in Enphase Energy in the third quarter worth $32,000. Activest Wealth Management boosted its stake in Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,040 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in Enphase Energy during the first quarter worth $33,000. Institutional investors own 72.12% of the company's stock.
About Enphase Energy
(
Get Free Report)
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.
Further Reading
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