Enphase Energy Inc (NASDAQ:ENPH) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $58.86, but opened at $59.93. Enphase Energy shares last traded at $56.88, with a volume of 288,300 shares traded.
Specifically, major shareholder Moreno Isidoro Quiroga sold 13,548,476 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $60.50, for a total transaction of $819,682,798.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link
. Also, COO Jeff Mcneil sold 7,500 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $25.06, for a total value of $187,950.00. Following the transaction, the chief operating officer now directly owns 352,960 shares in the company, valued at approximately $8,845,177.60. The disclosure for this sale can be found here
. Over the last 90 days, insiders have sold 15,392,282 shares of company stock worth $917,236,562. Company insiders own 7.10% of the company's stock.
A number of research analysts have recently commented on the company. Craig Hallum upped their target price on Enphase Energy from $43.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Barclays upped their target price on Enphase Energy from $67.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. HC Wainwright reaffirmed a "buy" rating and set a $48.00 target price (up previously from $36.00) on shares of Enphase Energy in a research note on Wednesday, February 19th. Oppenheimer reissued a "buy" rating and issued a $50.00 price objective on shares of Enphase Energy in a research note on Wednesday, May 6th. Finally, Goldman Sachs Group cut Enphase Energy from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $50.00 to $57.00 in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Enphase Energy presently has a consensus rating of "Buy" and a consensus price target of $57.08.
The company has a current ratio of 3.22, a quick ratio of 3.07 and a debt-to-equity ratio of 0.93. The firm has a market cap of $8.03 billion, a P/E ratio of 35.46 and a beta of 1.07. The firm has a 50-day simple moving average of $44.20 and a 200-day simple moving average of $34.58.
Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.14. The business had revenue of $205.50 million for the quarter, compared to analysts' expectations of $203.31 million. Enphase Energy had a return on equity of 71.56% and a net margin of 31.15%. The business's revenue for the quarter was up 105.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. Research analysts predict that Enphase Energy Inc will post 0.8 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC purchased a new stake in shares of Enphase Energy during the 1st quarter valued at $25,000. Hoey Investments Inc. lifted its holdings in shares of Enphase Energy by 113.6% during the 1st quarter. Hoey Investments Inc. now owns 1,335 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 710 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Enphase Energy by 51,600.0% during the 1st quarter. Federated Hermes Inc. now owns 1,551 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 1,548 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Enphase Energy during the 1st quarter valued at $58,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Enphase Energy during the 4th quarter valued at $75,000. 56.76% of the stock is currently owned by institutional investors and hedge funds.
Enphase Energy Company Profile (NASDAQ:ENPH)
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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