Enphase Energy Inc. (NASDAQ:ENPH) Director Benjamin John Kortlang bought 600,000 shares of Enphase Energy stock in a transaction dated Friday, September 23rd. The shares were bought at an average cost of $1.20 per share, for a total transaction of $720,000.00. Following the completion of the acquisition, the director now owns 852,614 shares in the company, valued at approximately $1,023,136.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Enphase Energy Inc. (NASDAQ:ENPH) opened at 1.20 on Monday. The company’s market capitalization is $56.09 million. The stock’s 50 day moving average price is $1.77 and its 200-day moving average price is $2.08. Enphase Energy Inc. has a 12 month low of $1.16 and a 12 month high of $5.37.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.03. Enphase Energy had a negative net margin of 16.25% and a negative return on equity of 149.67%. The company had revenue of $79.20 million for the quarter, compared to the consensus estimate of $78.71 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy Inc. will post ($1.06) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Guinness Asset Management Ltd raised its stake in Enphase Energy by 50.0% in the second quarter. Guinness Asset Management Ltd now owns 83,400 shares of the company’s stock worth $166,000 after buying an additional 27,800 shares during the last quarter. Menta Capital LLC raised its stake in Enphase Energy by 100.7% in the first quarter. Menta Capital LLC now owns 83,092 shares of the company’s stock worth $194,000 after buying an additional 41,699 shares during the last quarter. Paloma Partners Management Co bought a new stake in Enphase Energy during the second quarter worth about $205,000. Guinness Atkinson Asset Management Inc raised its stake in Enphase Energy by 42.5% in the second quarter. Guinness Atkinson Asset Management Inc now owns 208,900 shares of the company’s stock worth $416,000 after buying an additional 62,300 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Enphase Energy by 22.8% in the first quarter. Geode Capital Management LLC now owns 186,624 shares of the company’s stock worth $434,000 after buying an additional 34,592 shares during the last quarter. Institutional investors own 29.54% of the company’s stock.
ENPH has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Enphase Energy in a research note on Friday, July 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 31st. Canaccord Genuity reaffirmed a “hold” rating and issued a $2.00 price objective on shares of Enphase Energy in a research note on Thursday, August 4th. Deutsche Bank AG reduced their price objective on Enphase Energy from $1.50 to $1.30 and set a “sell” rating on the stock in a research note on Friday. Finally, Zacks Investment Research raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Enphase Energy currently has an average rating of “Hold” and a consensus price target of $3.42.
Enphase Energy Company Profile
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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