Enphase Energy (NASDAQ:ENPH) Director Shanker Trivedi Purchases 1,000 Shares

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $52.40 on Tuesday. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The company has a market cap of $6.91 billion, a PE ratio of 51.88 and a beta of 1.59. The stock has a 50 day simple moving average of $45.87 and a 200-day simple moving average of $41.03. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings cut shares of Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 5th. Morgan Stanley set a $27.00 target price on Enphase Energy in a report on Friday, May 8th. Evercore set a $37.00 target price on Enphase Energy in a research report on Monday, May 4th. Glj Research reiterated a “sell” rating and set a $21.70 price target on shares of Enphase Energy in a research report on Thursday, June 11th. Finally, Barclays decreased their target price on Enphase Energy from $31.00 to $30.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Nine equities research 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. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.65.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Monaco Asset Management SAM acquired a new stake in Enphase Energy during the fourth quarter valued at $2,724,000. Coatue Management LLC increased its position in Enphase Energy by 95.3% in the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after purchasing an additional 803,945 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Enphase Energy by 695.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 47,787 shares of the semiconductor company’s stock worth $1,691,000 after purchasing an additional 41,782 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Enphase Energy by 24.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,024,406 shares of the semiconductor company’s stock valued at $36,254,000 after buying an additional 200,059 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at about $1,039,000. Institutional investors and hedge funds 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.