Enphase Energy (NASDAQ:ENPH) Stock Price Down 10% After Insider Selling

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price was down 10% during mid-day trading on Friday following insider selling activity. The company traded as low as $60.90 and last traded at $61.5230. Approximately 972,584 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 7,370,709 shares. The stock had previously closed at $68.39.

Specifically, Director Richard Mora sold 700 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00. Following the completion of the sale, the director owned 13,922 shares in the company, valued at $893,792.40. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENPH. Glj Research set a $21.70 price target on Enphase Energy in a report on Thursday, February 5th. UBS Group set a $85.00 target price on shares of Enphase Energy in a research note on Friday, May 22nd. Jefferies Financial Group reduced their price target on shares of Enphase Energy from $57.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Barclays decreased their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $44.24.

Enphase Energy Stock Down 11.0%

The business has a 50 day moving average of $43.63 and a 200 day moving average of $39.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 60.43 and a beta of 1.60.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, equities analysts anticipate that Enphase Energy, Inc. will post 0.84 EPS for the current year.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Glass Jacobson Investment Advisors llc boosted its stake in Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 350 shares in the last quarter. Stance Capital LLC acquired a new stake in Enphase Energy in the 3rd quarter valued at $32,000. Activest Wealth Management grew its position in Enphase Energy by 52,000.0% in the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,040 shares during the period. Finally, Ascentis Independent Advisors acquired a new position in Enphase Energy during the first quarter worth $33,000. Institutional investors own 72.12% of the company’s stock.

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.