Enphase Energy (NASDAQ:ENPH) Director Sells 2,000 Shares

Key Points

• Enphase Energy director Richard Mora sold 2,000 shares at an average price of $36.76, worth $73,520, reducing his ownership by 14.37% to 11,922 shares. He had also sold 700 shares in both May and June.
• ENPH traded near $37.54, well below its 50-day moving average of $50.14 and its 52-week high of $73.74. The company’s latest quarterly revenue of $291.85 million exceeded estimates, but earnings per share of $0.46 narrowly missed expectations and revenue fell 19.6% year over year.
• Analysts hold a broadly cautious view, with a consensus “Hold” rating and a $45.61 target price; institutional investors own 72.12% of the company.

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) Director Richard Mora sold 2,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the completion of the sale, the director owned 11,922 shares of the company's stock, valued at $438,252.72. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 Price Performance

ENPH traded up $0.16 during trading on Friday, reaching $37.54. The company's stock had a trading volume of 6,362,096 shares, compared to its average volume of 7,098,317. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 37.54 and a beta of 1.62. The firm has a fifty day simple moving average of $50.14 and a two-hundred day simple moving average of $43.81. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. The company has a quick ratio of 3.20, a current ratio of 3.45 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. Enphase Energy's revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. As a group, analysts anticipate that Enphase Energy, Inc. will post 0.82 EPS for the current year.

Institutional Trading of Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. Norges Bank acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $118,190,000. Handelsbanken Fonder AB lifted its holdings in Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock worth $103,953,000 after buying an additional 1,283,052 shares in the last quarter. Invesco Ltd. boosted its position in Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock valued at $101,244,000 after buying an additional 839,468 shares during the period. Sora Investors LLC acquired a new position in shares of Enphase Energy in the fourth quarter worth $25,998,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Enphase Energy by 2,335.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company's stock worth $28,244,000 after acquiring an additional 765,322 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of analyst reports. BMO Capital Markets dropped their price objective on shares of Enphase Energy from $39.00 to $37.00 and set a "market perform" rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. UBS Group set a $56.00 price target on shares of Enphase Energy in a research report on Wednesday. Oppenheimer decreased their price objective on Enphase Energy from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, 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. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.61.

Enphase Energy Company Profile

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.

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