Richard Mora Sells 700 Shares of Enphase Energy (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 700 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the sale, the director owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, May 19th, Richard Mora sold 700 shares of Enphase Energy stock. The stock was sold at an average price of $46.39, for a total value of $32,473.00.

Enphase Energy Trading Down 18.0%

ENPH stock opened at $56.07 on Friday. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 55.52 and a beta of 1.60. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $43.90 and a 200-day simple moving average of $39.81. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The business 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 business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities research analysts expect that Enphase Energy, Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ENPH shares. Jefferies Financial Group dropped their price objective on Enphase Energy from $57.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft increased their price target on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, April 30th. UBS Group set a $85.00 price target on Enphase Energy in a report on Friday, May 22nd. Citigroup lowered their price target on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Oppenheimer lowered their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $44.24.

Institutional Trading of Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Norges Bank acquired a new stake in Enphase Energy in the 4th quarter valued at $118,190,000. Invesco Ltd. grew its stake in shares of Enphase Energy by 36.2% during the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after acquiring an additional 839,468 shares in the last quarter. Sora Investors LLC acquired a new stake in shares of Enphase Energy during the fourth quarter valued at about $25,998,000. Coatue Management LLC grew its stake in shares of Enphase Energy by 95.3% during the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after acquiring an additional 803,945 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Enphase Energy by 2,335.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock valued at $28,244,000 after acquiring an additional 765,322 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.