Enphase Energy (NASDAQ:ENPH) Director Purchases $30,590.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi acquired 1,000 shares of Enphase Energy stock in a transaction on Tuesday, November 3rd. The shares were bought at an average cost of $30.59 per share, with a total value of $30,590.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at $61,180. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Enphase Energy Stock Performance

Enphase Energy stock traded up $2.49 during mid-day trading on Tuesday, reaching $30.42. 8,414,189 shares of the company were exchanged, compared to its average volume of 6,513,241. The firm’s 50-day simple moving average is $33.41 and its two-hundred day simple moving average is $40.92. Enphase Energy, Inc. has a twelve month low of $23.83 and a twelve month high of $73.74. The firm has a market cap of $4.02 billion, a PE ratio of 45.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.95 and a current ratio of 4.09.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Enphase Energy had a return on equity of 9.16% and a net margin of 7.49%. The company had revenue of $293.33 million for the quarter, compared to analysts’ expectations of $304.59 million. During the same quarter last year, the company earned $0.90 EPS. Enphase Energy’s revenue for the quarter was down 28.5% compared to the same quarter last year. Equities analysts predict that Enphase Energy, Inc. will post 0.34 earnings per share for the current fiscal year.

More Enphase Energy News

Here are the key news stories impacting Enphase Energy this week:

• Positive Sentiment: Solar stocks rallied for a second session ahead of a busy stretch of industry earnings, lifting Enphase along with peers. The move appears largely sector-driven and partly reverses recent earnings-related losses. Solar-sector rebound
• Positive Sentiment: CEO Badrinarayanan Kothandaraman bought 10,000 shares for about $267,500 at an average price of $26.75, increasing his stake by 0.61%. The purchase may be viewed as a sign of confidence following the stock’s recent weakness. CEO share purchase
• Negative Sentiment: Analyst expectations have been reset lower: Enphase’s consensus price target was reported down 20.46% to $35.81, adding pressure after recent cuts to price targets and earnings estimates. Consensus price-target reduction
• Negative Sentiment: The latest quarterly report missed analyst estimates: EPS was $0.41 versus $0.51 expected, while revenue declined 28.5% year over year to $293.3 million and also fell short of consensus. Those results continue to weigh on the outlook despite the sector bounce.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Handelsbanken Fonder AB grew its position in shares of Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. Jupiter Topco LLC purchased a new position in shares of Enphase Energy during the 2nd quarter worth approximately $6,766,000. Bank of America Corp DE purchased a new position in shares of Enphase Energy during the 2nd quarter worth approximately $19,333,000. SIR Capital Management L.P. acquired a new position in shares of Enphase Energy during the 2nd quarter worth approximately $10,858,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Enphase Energy during the 2nd quarter worth approximately $43,921,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of Enphase Energy from $28.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, October 28th. Royal Bank Of Canada dropped their price target on shares of Enphase Energy from $41.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Citigroup cut their price target on shares of Enphase Energy from $37.00 to $25.00 and set a “neutral” rating for the company in a report on Friday. Wall Street Zen downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.11.

Enphase Energy Company Profile

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.