Enphase Energy (ENPH) Trading Down 7%
Enphase Energy Inc (NASDAQ:ENPH) dropped 7% during trading on Tuesday . The company traded as low as $4.80 and last traded at $4.92. Approximately 2,079,798 shares were traded during trading, a decline of 17% from the average daily volume of 2,516,918 shares. The stock had previously closed at $5.29.
ENPH has been the subject of a number of recent research reports. B. Riley set a $8.00 price target on shares of Enphase Energy and gave the stock a “buy” rating in a report on Wednesday, August 1st. ValuEngine cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. HC Wainwright set a $9.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Finally, BidaskClub raised shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Enphase Energy presently has an average rating of “Buy” and a consensus target price of $7.21.
The company has a debt-to-equity ratio of 21.18, a current ratio of 1.55 and a quick ratio of 1.42. The firm has a market capitalization of $562.48 million, a PE ratio of -9.35 and a beta of 0.48.
In other Enphase Energy news, CFO Eric Branderiz bought 19,880 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average price of $5.03 per share, for a total transaction of $99,996.40. Following the transaction, the chief financial officer now directly owns 19,880 shares in the company, valued at $99,996.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average price of $5.69 per share, for a total transaction of $85,350.00. Following the transaction, the chief executive officer now owns 129,440 shares in the company, valued at $736,513.60. The disclosure for this purchase can be found here. 13.52% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Marathon Capital Management bought a new position in Enphase Energy in the second quarter worth approximately $1,688,000. Schwab Charles Investment Management Inc. bought a new position in shares of Enphase Energy in the second quarter valued at approximately $1,224,000. BlueMountain Capital Management LLC bought a new position in shares of Enphase Energy in the second quarter valued at approximately $925,000. Engineers Gate Manager LP bought a new position in shares of Enphase Energy in the second quarter valued at approximately $227,000. Finally, BDO Wealth Advisors LLC bought a new position in shares of Enphase Energy in the second quarter valued at approximately $337,000. Institutional investors own 35.83% of the company’s stock.
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About Enphase Energy (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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