Green Alpha Advisors LLC Purchases New Stake in Enphase Energy, Inc. $ENPH

Green Alpha Advisors LLC purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,288 shares of the semiconductor company’s stock, valued at approximately $802,000.

A number of other institutional investors and hedge funds have also modified their holdings of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Enphase Energy by 431.9% in the second 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 last quarter. Activest Wealth Management boosted its position in Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,040 shares during the last quarter. Ascentis Independent Advisors acquired a new position in Enphase Energy in the first quarter valued at $33,000. Danske Bank A S purchased a new position in shares of Enphase Energy during the 3rd quarter worth about $39,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Enphase Energy in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Up 0.7%

Shares of NASDAQ:ENPH opened at $38.61 on Friday. The company has a market cap of $5.10 billion, a PE ratio of 38.61 and a beta of 1.64. The company’s 50-day moving average price is $42.82 and its 200 day moving average price is $44.05. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH) last announced 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 firm 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 quarter in the previous year, the business posted $0.69 EPS. Sell-side analysts anticipate that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENPH shares. UBS Group set a $56.00 target price on Enphase Energy in a report on Wednesday, July 29th. The Goldman Sachs Group increased their price target on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Oppenheimer reduced their price objective on Enphase Energy from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $45.79.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This trade represents a 0.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Mora sold 2,000 shares of the firm’s 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 transaction, the director directly owned 11,922 shares in the company, valued at approximately $438,252.72. The trade was a 14.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,200 shares of company stock worth $179,000. 2.90% of the stock is owned by company insiders.

Enphase Energy 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.