Enphase Energy (ENPH) Shares Gap Down to $4.92
Enphase Energy Inc (NASDAQ:ENPH) shares gapped down before the market opened on Wednesday . The stock had previously closed at $4.67, but opened at $4.92. Enphase Energy shares last traded at $5.05, with a volume of 37427 shares changing hands.
A number of research analysts have recently weighed in on ENPH shares. BidaskClub downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Enphase Energy in a report on Wednesday, August 1st. B. Riley set a $8.00 price target on shares of Enphase Energy and gave the company a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, ValuEngine downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.21.
The company has a debt-to-equity ratio of 21.18, a quick ratio of 1.42 and a current ratio of 1.55. The company has a market cap of $562.48 million, a PE ratio of -9.41 and a beta of 0.48.
In other news, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $85,350.00. Following the purchase, the chief executive officer now owns 129,440 shares of the company’s stock, valued at approximately $736,513.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric Branderiz bought 19,880 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $5.03 per share, for a total transaction of $99,996.40. Following the completion of the purchase, the chief financial officer now directly owns 19,880 shares in the company, valued at approximately $99,996.40. The disclosure for this purchase can be found here. Company insiders own 13.52% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System acquired a new stake in Enphase Energy in the 2nd quarter worth $115,000. SG Americas Securities LLC acquired a new stake in Enphase Energy in the 2nd quarter worth $121,000. HRT Financial LLC acquired a new stake in Enphase Energy in the 3rd quarter worth $107,000. Virtu Financial LLC acquired a new stake in Enphase Energy in the 3rd quarter worth $123,000. Finally, PEAK6 Investments L.P. acquired a new stake in Enphase Energy in the 2nd quarter worth $193,000. Institutional investors and hedge funds own 35.83% of the company’s stock.
Enphase Energy Company Profile (NASDAQ:ENPH)
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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