Enphase Energy (NASDAQ:ENPH) Director Shanker Trivedi Acquires 1,000 Shares of Company Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was acquired at an average cost of $30.59 per share, for a total transaction of $30,590.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at $61,180. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $30.42 on Wednesday. The company has a current ratio of 4.09, a quick ratio of 3.56 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $33.28 and a two-hundred day moving average price of $40.89. Enphase Energy, Inc. has a twelve month low of $23.83 and a twelve month high of $73.74. The company has a market capitalization of $4.02 billion, a P/E ratio of 45.40 and a beta of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $293.33 million during the quarter, compared to analysts’ expectations of $304.59 million. Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The firm’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. As a group, research analysts expect that Enphase Energy, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. Archer Investment Corp acquired a new position in Enphase Energy in the 2nd quarter valued at $30,000. Ascentis Independent Advisors purchased a new position in shares of Enphase Energy during the 1st quarter worth $33,000. Burnham & Co LLC purchased a new position in shares of Enphase Energy during the 2nd quarter worth $34,000. Continuum Advisory LLC acquired a new stake in shares of Enphase Energy during the second quarter worth $42,000. Finally, Allworth Financial LP acquired a new stake in shares of Enphase Energy during the second quarter worth $46,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Key Enphase Energy News

Here are the key news stories impacting Enphase Energy this week:

• Positive Sentiment: CEO Badrinarayanan Kothandaraman bought 10,000 shares for about $267,500, and director Shanker Trivedi bought 1,000 shares for about $30,590. The purchases may bolster confidence following the stock’s recent decline. CEO SEC filing Director SEC filing
• Positive Sentiment: Enphase participated in a second consecutive session of gains across solar stocks as investors looked toward a busy earnings calendar. The sector rebound helped lift the shares. Solar sector rebound
• Negative Sentiment: Recent quarterly results missed expectations: EPS was $0.41 versus $0.51 expected, revenue was $293.3 million versus $304.6 million expected, and revenue declined 28.5% year over year. Analyst price-target and earnings-estimate cuts, including a reported 20.46% reduction in the consensus target to $35.81, underscore concerns about the outlook. Consensus target reduction

Wall Street Analyst Weigh In

ENPH has been the topic of a number of recent research reports. BMO Capital Markets reduced their target price on Enphase Energy from $28.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 28th. Roth Capital downgraded Enphase Energy from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Wednesday, October 28th. Evercore reissued a “positive” rating and issued a $41.00 price target on shares of Enphase Energy in a report on Monday, August 17th. The Goldman Sachs Group reduced their price objective on Enphase Energy from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Finally, TD Cowen reduced their price objective on Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.11.

Enphase Energy Company Profile

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.