Enphase Energy (NASDAQ:ENPH) Director Sells $57,255.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $52.05, for a total transaction of $57,255.00. Following the completion of the sale, the director directly owned 9,370 shares of the company’s stock, valued at $487,708.50. The trade was a 10.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Enphase Energy Trading Down 1.5%

Shares of NASDAQ ENPH opened at $43.49 on Friday. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $70.78. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 33.71 and a beta of 1.37. The company has a quick ratio of 1.84, a current ratio of 2.07 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average is $36.84 and its 200-day moving average is $35.07.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.52 by $0.19. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.The business had revenue of $343.32 million for the quarter, compared to the consensus estimate of $340.45 million. During the same quarter last year, the business posted $0.94 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ENPH. Wall Street Zen downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup boosted their price objective on shares of Enphase Energy from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Zacks Research cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. TD Cowen lifted their price target on Enphase Energy from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Finally, BMO Capital Markets raised Enphase Energy from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $31.00 to $41.00 in a research report on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.70.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Woodline Partners LP raised its stake in shares of Enphase Energy by 37.9% during the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 3,077 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Enphase Energy during the first quarter worth $121,000. KLP Kapitalforvaltning AS raised its position in Enphase Energy by 4.2% during the second quarter. KLP Kapitalforvaltning AS now owns 27,200 shares of the semiconductor company’s stock worth $1,078,000 after acquiring an additional 1,100 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Enphase Energy by 3.0% in the second quarter. Yousif Capital Management LLC now owns 16,796 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 482 shares during the last quarter. Finally, RFG Advisory LLC grew its position in shares of Enphase Energy by 34.3% in the 2nd quarter. RFG Advisory LLC now owns 7,400 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,890 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

About Enphase Energy

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.