Richard Mora Sells 1,500 Shares of Enphase Energy (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 1,500 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.36, for a total transaction of $60,540.00. Following the sale, the director directly owned 10,422 shares of the company’s stock, valued at $420,631.92. This represents a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Richard Mora also recently made the following trade(s):

• On Thursday, July 30th, Richard Mora sold 2,000 shares of Enphase Energy stock. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00.
• On Monday, June 1st, Richard Mora sold 700 shares of Enphase Energy stock. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00.
• 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 Trading Down 0.7%

NASDAQ:ENPH opened at $40.48 on Friday. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The firm’s fifty day moving average is $44.38 and its 200-day moving average is $44.06. The firm has a market cap of $5.35 billion, a P/E ratio of 40.48 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.Enphase Energy’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Equities analysts expect that Enphase Energy, Inc. will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently made changes to their positions in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Enphase Energy by 431.9% in the second 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 acquiring an additional 514 shares in the last quarter. Burnham & Co LLC bought a new stake in shares of Enphase Energy during the second quarter valued at approximately $34,000. Ascentis Independent Advisors bought a new stake in shares of Enphase Energy during the first quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in shares of Enphase Energy during the second quarter worth approximately $46,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Enphase Energy during the second quarter worth approximately $48,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analysts Set New Price Targets

ENPH has been the subject of several research analyst reports. Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $30.00 to $51.00 in a research report on Thursday, June 18th. JPMorgan Chase & Co. decreased their target price on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their target price on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada lowered their target price on Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.61.

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.