Enphase Energy (NASDAQ:ENPH) Director Buys $53,910.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at approximately $53,910. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded down $2.19 during trading on Monday, hitting $52.40. 6,569,324 shares of the company were exchanged, compared to its average volume of 8,549,097. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 51.88 and a beta of 1.59. The firm has a 50 day moving average price of $45.87 and a 200 day moving average price of $41.03.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. On average, equities analysts expect that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ENPH. Morgan Stanley set a $27.00 price objective on shares of Enphase Energy in a research note on Friday, May 8th. Susquehanna decreased their price target on shares of Enphase Energy from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Weiss Ratings lowered Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Finally, TD Cowen upped their target price on shares of Enphase Energy from $35.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.65.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Enphase Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after acquiring an additional 246,876 shares during the period. Norges Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $118,190,000. Invesco Ltd. raised its stake in Enphase Energy by 36.2% during the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after acquiring an additional 839,468 shares during the period. Geode Capital Management LLC raised its stake in Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after acquiring an additional 11,220 shares during the period. Finally, First Trust Advisors LP raised its stake in Enphase Energy by 42.4% during the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock worth $69,359,000 after acquiring an additional 546,460 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.