K.J. Harrison & Partners Inc Purchases Shares of 15,000 Enphase Energy, Inc. $ENPH

K.J. Harrison & Partners Inc purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, Holdings Channel reports. The fund purchased 15,000 shares of the semiconductor company’s stock, valued at approximately $739,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after buying an additional 514 shares during the last quarter. Activest Wealth Management increased its position in shares of 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 last quarter. Ascentis Independent Advisors bought a new stake in Enphase Energy during the first quarter worth about $33,000. Danske Bank A S bought a new stake in Enphase Energy during the third quarter worth about $39,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Enphase Energy during the fourth quarter valued at approximately $45,000. 72.12% of the stock is owned by institutional investors.

Insider Activity

In other Enphase Energy news, Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 4,200 shares of company stock valued at $179,000. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ENPH. The Goldman Sachs Group raised their price target on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Evercore reiterated a “positive” rating and set a $41.00 price objective on shares of Enphase Energy in a research note on Monday. TD Cowen cut their price objective on Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. BMO Capital Markets decreased their target price on shares of Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a research note on Wednesday, July 29th. Finally, Barclays upgraded shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $30.00 to $51.00 in a report on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.79.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $38.65 on Tuesday. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 38.65 and a beta of 1.64. The company has a 50-day simple moving average of $44.02 and a 200 day simple moving average of $44.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $291.85 million during the quarter, compared to the consensus estimate of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm’s revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. On average, sell-side analysts predict that Enphase Energy, Inc. will post 0.78 earnings per share for the current year.

Enphase Energy Company 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.