Key Points
- Enphase Energy director Richard Mora sold 700 shares on June 1 at an average price of $64.20, generating about $44,940. After the sale, he still held 13,922 shares, reducing his stake by 4.79%.
- The company beat quarterly earnings estimates on April 28, reporting EPS of $0.47 versus the $0.43 expected, while revenue came in at $282.9 million. However, revenue was still down 20.6% year over year.
- Wall Street remains mixed on ENPH, with analysts assigning a consensus Hold rating and an average price target of $44.24. Institutional ownership is also high, with hedge funds and other investors holding 72.12% of shares.
Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $64.20, for a total transaction of $44,940.00. Following the sale, the director owned 13,922 shares in the company, valued at approximately $893,792.40. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Richard Mora also recently made the following trade(s):
- On Tuesday, May 19th, Richard Mora sold 700 shares of Enphase Energy stock. The shares were sold at an average price of $46.39, for a total transaction of $32,473.00.
Enphase Energy Price Performance
Shares of NASDAQ ENPH opened at $68.39 on Friday. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The firm's 50-day simple moving average is $43.63 and its 200 day simple moving average is $39.70. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. The stock has a market cap of $9.01 billion, a P/E ratio of 67.71 and a beta of 1.60.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million for the quarter, compared to analysts' expectations of $282.28 million. During the same period in the previous year, the business earned $0.68 earnings per share. The company's revenue was down 20.6% on a year-over-year basis. Equities analysts expect that Enphase Energy, Inc. will post 0.84 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of Enphase Energy from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Jefferies Financial Group lowered their target price on Enphase Energy from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Thursday, March 26th. Barclays lowered their target price on Enphase Energy from $31.00 to $30.00 and set an "underweight" rating on the stock in a report on Monday, May 4th. Glj Research set a $21.70 target price on Enphase Energy in a report on Thursday, February 5th. Finally, The Goldman Sachs Group lifted their target price on Enphase Energy from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and a consensus price target of $44.24.
Check Out Our Latest Stock Report on Enphase Energy
Hedge Funds Weigh In On Enphase Energy
A number of institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Enphase Energy by 39.6% in the 1st quarter. Parallel Advisors LLC now owns 6,062 shares of the semiconductor company's stock worth $229,000 after purchasing an additional 1,719 shares in the last quarter. Western Wealth Management LLC purchased a new position in Enphase Energy in the 1st quarter worth about $151,000. Janus Henderson Group PLC increased its stake in Enphase Energy by 124.3% in the 1st quarter. Janus Henderson Group PLC now owns 130,385 shares of the semiconductor company's stock worth $4,931,000 after purchasing an additional 72,247 shares in the last quarter. Centaurus Financial Inc. increased its stake in Enphase Energy by 44.8% in the 1st quarter. Centaurus Financial Inc. now owns 6,988 shares of the semiconductor company's stock worth $264,000 after purchasing an additional 2,161 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Enphase Energy by 21.6% in the 1st quarter. California State Teachers Retirement System now owns 150,840 shares of the semiconductor company's stock worth $5,703,000 after purchasing an additional 26,824 shares in the last quarter. Hedge funds and other 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.
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