Richard Mora Sells 2,000 Shares of Enphase Energy (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the transaction, the director directly owned 11,922 shares of the company’s stock, valued at $438,252.72. The trade was a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Richard Mora also recently made the following trade(s):

• On Monday, June 1st, Richard Mora sold 700 shares of Enphase Energy stock. The shares were sold at an average price of $64.20, for a total value of $44,940.00.
• On Tuesday, May 19th, Richard Mora sold 700 shares of Enphase Energy stock. The shares were sold at an average price of $46.39, for a total value of $32,473.00.

Enphase Energy Price Performance

Enphase Energy stock opened at $37.54 on Friday. The firm has a market capitalization of $4.96 billion, a PE ratio of 37.54 and a beta of 1.62. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The firm’s 50-day simple moving average is $49.62 and its 200 day simple moving average is $43.77. The company has a quick ratio of 3.20, a current ratio of 3.45 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The business had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. During the same quarter last year, the business posted $0.69 earnings per share. The business’s revenue was down 19.6% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy, Inc. will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENPH. UBS Group set a $56.00 price objective on Enphase Energy in a research note on Wednesday. Mizuho lowered their price target on shares of Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Morgan Stanley set a $27.00 price target on Enphase Energy in a report on Friday, May 8th. Finally, Susquehanna decreased their price objective on Enphase Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $45.61.

Institutional Trading of Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Vanguard Group Inc. lifted its stake in shares of Enphase Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after purchasing an additional 246,876 shares in the last quarter. Norges Bank acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $118,190,000. Invesco Ltd. raised its holdings in shares of Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after buying an additional 839,468 shares during the period. Geode Capital Management LLC raised its holdings in shares of Enphase Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock valued at $80,478,000 after buying an additional 11,220 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after acquiring an additional 1,283,052 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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.