Key Points
- Director Thurman Rodgers sold 300,000 Enphase shares for $8.73 million, reducing his stake by 18.73%; he retained 1,301,719 shares.
- Enphase missed quarterly earnings and revenue expectations: EPS was $0.41 versus $0.51 expected, while revenue fell 28.5% year over year to $293.33 million.
- Analysts have a consensus Hold rating, with an average price target of $35.11; seven rate the stock Buy, 12 Hold, and three Sell.
Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) Director Thurman Rodgers sold 300,000 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $29.11, for a total transaction of $8,733,000.00. Following the completion of the sale, the director owned 1,301,719 shares of the company's stock, valued at approximately $37,893,040.09. The trade was a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Enphase Energy Stock Performance
Shares of ENPH stock opened at $26.78 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.56 and a current ratio of 4.09. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 39.97 and a beta of 1.44. Enphase Energy, Inc. has a one year low of $23.83 and a one year high of $73.74. The company has a 50 day moving average price of $32.10 and a 200 day moving average price of $40.59.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The company had revenue of $293.33 million during the quarter, compared to analyst estimates of $304.59 million. During the same quarter last year, the business earned $0.90 EPS. The firm's revenue for the quarter was down 28.5% compared to the same quarter last year. Sell-side analysts anticipate that Enphase Energy, Inc. will post 0.34 EPS for the current year.
Institutional Investors Weigh In On Enphase Energy
Large investors have recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in shares of Enphase Energy by 1.8% during the 3rd quarter. First Trust Advisors LP now owns 2,324,864 shares of the semiconductor company's stock valued at $76,697,000 after buying an additional 42,079 shares during the period. Handelsbanken Fonder AB boosted its holdings 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 acquiring an additional 1,283,052 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Enphase Energy by 37.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,361,157 shares of the semiconductor company's stock worth $51,459,000 after acquiring an additional 373,212 shares during the period. Principal Financial Group Inc. boosted its holdings in Enphase Energy by 79.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,112,067 shares of the semiconductor company's stock worth $42,047,000 after acquiring an additional 491,488 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Enphase Energy in the second quarter valued at approximately $43,921,000. Institutional investors and hedge funds own 72.12% of the company's stock.
Wall Street Analyst Weigh In
ENPH has been the topic of several research reports. Royal Bank Of Canada cut their target price on Enphase Energy from $41.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 28th. Susquehanna lowered their price target on Enphase Energy from $35.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, October 28th. The Goldman Sachs Group dropped their price target on Enphase Energy from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, October 28th. Roth Capital downgraded Enphase Energy from a "buy" rating to a "neutral" rating and set a $30.00 price objective on the stock. in a report on Wednesday, October 28th. Finally, Sanford C. Bernstein reduced their price objective on Enphase Energy from $56.00 to $40.00 and set a "market perform" rating on the stock in a research note on Wednesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $35.11.
View Our Latest Analysis on ENPH
Enphase Energy Company Profile
(
Get Free Report)
Enphase Energy, Inc. develops and sells energy technology for solar-powered homes and businesses. Its products include microinverters, which convert the direct current generated by solar panels into alternating current for use in buildings or delivery to the grid, as well as battery storage systems, electric vehicle chargers and related energy management software. The company's integrated systems are designed to help customers monitor and manage solar generation, energy storage and electricity use.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
