Key Points
- Enphase director Shanker Trivedi bought 1,000 shares for $30,590 at $30.59 each, doubling his direct ownership to 2,000 shares.
- Recent quarterly results fell short of expectations: EPS was $0.41 versus $0.51 expected, while revenue of $293.3 million missed estimates and declined 28.5% year over year.
- Analysts have lowered price targets, and the consensus rating is Hold, with an average target of $35.11.
Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average price of $30.59 per share, with a total value of $30,590.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at $61,180. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Enphase Energy Trading Up 8.9%
NASDAQ ENPH opened at $30.42 on Wednesday. Enphase Energy, Inc. has a 12 month low of $23.83 and a 12 month high of $73.74. The company has a 50-day moving average of $33.28 and a 200-day moving average of $40.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.09 and a quick ratio of 3.56. The company has a market cap of $4.02 billion, a P/E ratio of 45.40 and a beta of 1.44.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Enphase Energy had a return on equity of 9.16% and a net margin of 7.49%. The company had revenue of $293.33 million during the quarter, compared to analyst estimates of $304.59 million. During the same period in the prior year, the business posted $0.90 earnings per share. Enphase Energy's revenue was down 28.5% on a year-over-year basis. As a group, equities analysts predict that Enphase Energy, Inc. will post 0.34 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Citigroup cut their price target on shares of Enphase Energy from $37.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, October 30th. Wells Fargo & Company lowered their price objective on shares of Enphase Energy from $44.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, October 28th. The Goldman Sachs Group dropped their price objective on Enphase Energy from $47.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, October 28th. Craig Hallum set a $38.00 target price on Enphase Energy in a research report on Wednesday, October 28th. Finally, TD Cowen reduced their target price on Enphase Energy from $70.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $35.11.
Read Our Latest Stock Report on ENPH
Institutional Trading of Enphase Energy
A number of institutional investors have recently modified their holdings of ENPH. Candriam S.C.A. boosted its position in shares of Enphase Energy by 52.3% in the third quarter. Candriam S.C.A. now owns 59,482 shares of the semiconductor company's stock worth $1,969,000 after buying an additional 20,423 shares during the period. Kimelman & Baird LLC grew its stake in shares of Enphase Energy by 6.1% in the third quarter. Kimelman & Baird LLC now owns 217,434 shares of the semiconductor company's stock valued at $7,173,000 after buying an additional 12,596 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Enphase Energy by 24.8% during the 3rd quarter. Alps Advisors Inc. now owns 193,301 shares of the semiconductor company's stock valued at $6,377,000 after buying an additional 38,357 shares during the period. CenterBook Partners LP boosted its stake in shares of Enphase Energy by 85.0% in the third quarter. CenterBook Partners LP now owns 59,468 shares of the semiconductor company's stock valued at $1,962,000 after purchasing an additional 27,322 shares during the period. Finally, Compass Financial Management LLC acquired a new stake in Enphase Energy during the 3rd quarter valued at $1,199,000. Hedge funds and other institutional investors own 72.12% of the company's stock.
Key Enphase Energy News
Here are the key news stories impacting Enphase Energy this week:
- Positive Sentiment: CEO Badrinarayanan Kothandaraman bought 10,000 shares for about $267,500, and director Shanker Trivedi bought 1,000 shares for about $30,590. The purchases may bolster confidence following the stock’s recent decline. CEO SEC filing Director SEC filing
- Positive Sentiment: Enphase participated in a second consecutive session of gains across solar stocks as investors looked toward a busy earnings calendar. The sector rebound helped lift the shares. Solar sector rebound
- Negative Sentiment: Recent quarterly results missed expectations: EPS was $0.41 versus $0.51 expected, revenue was $293.3 million versus $304.6 million expected, and revenue declined 28.5% year over year. Analyst price-target and earnings-estimate cuts, including a reported 20.46% reduction in the consensus target to $35.81, underscore concerns about the outlook. Consensus target reduction
About Enphase Energy
(
Get Free Report)
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.
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