Richard Mora Sells 2,000 Shares of Enphase Energy (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) 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 value of $73,520.00. Following the completion of the sale, the director directly owned 11,922 shares in the company, valued at $438,252.72. This represents a 14.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $46.39, for a total transaction of $32,473.00.

Enphase Energy Stock Up 0.4%

NASDAQ ENPH traded up $0.16 during trading on Friday, reaching $37.54. 6,362,096 shares of the company’s stock were exchanged, compared to its average volume of 7,098,317. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.20 and a current ratio of 3.45. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. The stock has a market cap of $4.96 billion, a P/E ratio of 37.54 and a beta of 1.62. The company has a 50 day moving average price of $50.14 and a two-hundred day moving average price of $43.81.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business 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%. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in the company. PFG Investments LLC increased its position in Enphase Energy by 2.2% during the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 260 shares during the period. Glass Jacobson Investment Advisors llc lifted its position in shares of Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of Enphase Energy by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock valued at $845,000 after purchasing an additional 404 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Enphase Energy by 33.6% in the 2nd quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 410 shares during the last quarter. Finally, Saturna Capital Corp increased its position in shares of Enphase Energy by 4.2% during the first quarter. Saturna Capital Corp now owns 10,957 shares of the semiconductor company’s stock worth $414,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ENPH shares. Sanford C. Bernstein started coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $56.00 price target for the company. Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $30.00 to $51.00 in a report on Thursday, June 18th. Jefferies Financial Group upped their target price on shares of Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft raised their price target on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets cut their price objective on Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $45.61.

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.