Enphase Energy (NASDAQ:ENPH) Director Thurman Rodgers Sells 300,000 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman Rodgers sold 300,000 shares of Enphase Energy stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $29.11, for a total value of $8,733,000.00. Following the transaction, the director owned 1,301,719 shares in the company, valued at approximately $37,893,040.09. This represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Enphase Energy Trading Down 5.4%

NASDAQ:ENPH traded down $1.52 on Thursday, reaching $26.78. The company’s stock had a trading volume of 4,193,036 shares, compared to its average volume of 8,501,232. Enphase Energy, Inc. has a 1-year low of $23.83 and a 1-year high of $73.74. The business’s 50-day moving average price is $32.10 and its two-hundred day moving average price is $40.59. The firm has a market cap of $3.54 billion, a PE ratio of 39.97 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.56 and a current ratio of 4.09.

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

Analyst Ratings Changes

ENPH has been the subject of a number of research reports. Weiss Ratings cut Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 28th. TD Cowen reduced their price target on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. The Goldman Sachs Group reduced their price target on shares of Enphase Energy from $47.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Susquehanna lowered their price objective on shares of Enphase Energy from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Finally, Citigroup dropped their price objective on shares of Enphase Energy from $37.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Seven research 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. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $35.11.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently made changes to their positions in the business. Archer Investment Corp acquired a new stake in shares of Enphase Energy in the second quarter valued at approximately $30,000. Burnham & Co LLC acquired a new position in Enphase Energy during the second quarter worth $34,000. Continuum Advisory LLC acquired a new position in Enphase Energy during the second quarter worth $42,000. Allworth Financial LP acquired a new position in Enphase Energy during the second quarter worth $46,000. Finally, FNY Investment Advisers LLC bought a new position in Enphase Energy in the second quarter valued at $48,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Company Profile

Enphase Energy, Inc. develops and sells energy technology for solar-powered homes and businesses. Its products include microinverters, which convert the direct current generated by solar panels into alternating current for use in buildings or delivery to the grid, as well as battery storage systems, electric vehicle chargers and related energy management software. The company’s integrated systems are designed to help customers monitor and manage solar generation, energy storage and electricity use.