Insider Buying: Enphase Energy (NASDAQ:ENPH) Director Buys $30,590.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi purchased 1,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $30.59 per share, with a total value of $30,590.00. Following the transaction, the director owned 2,000 shares in the company, valued at approximately $61,180. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Enphase Energy Trading Down 8.2%

ENPH stock opened at $28.97 on Friday. The company has a current ratio of 4.09, a quick ratio of 3.56 and a debt-to-equity ratio of 0.46. Enphase Energy, Inc. has a 12-month low of $23.83 and a 12-month high of $73.74. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 43.24 and a beta of 1.44. The business’s 50-day moving average is $32.97 and its 200 day moving average is $40.84.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data 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). The firm had revenue of $293.33 million during the quarter, compared to analyst estimates of $304.59 million. Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The company’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System boosted its position in shares of Enphase Energy by 40.6% in the third quarter. Maryland State Retirement & Pension System now owns 35,600 shares of the semiconductor company’s stock valued at $1,174,000 after acquiring an additional 10,278 shares during the period. Illinois Municipal Retirement Fund bought a new position in Enphase Energy in the 3rd quarter valued at about $2,216,000. AlphaCore Capital LLC raised its position in Enphase Energy by 11.3% during the third quarter. AlphaCore Capital LLC now owns 41,799 shares of the semiconductor company’s stock valued at $1,379,000 after purchasing an additional 4,241 shares in the last quarter. Fulcrum Asset Management LLP raised its holdings in shares of Enphase Energy by 2,865.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 17,379 shares of the semiconductor company’s stock worth $553,000 after buying an additional 16,793 shares in the last quarter. Finally, Candriam S.C.A. lifted its holdings 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 acquiring an additional 20,423 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Ratings Changes

ENPH has been the topic of a number of research reports. Mizuho set a $34.00 price objective on shares of Enphase Energy in a research note on Wednesday, October 28th. Wall Street Zen downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Wells Fargo & Company cut 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 report on Wednesday, October 28th. JPMorgan Chase & Co. cut their price target on Enphase Energy from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. Finally, Evercore restated a “positive” rating and set a $41.00 price objective on shares of Enphase Energy in a report on Monday, August 17th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.11.

About Enphase Energy

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.