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

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman Rodgers sold 300,000 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $29.11, for a total value of $8,733,000.00. Following the transaction, the director directly owned 1,301,719 shares in the company, valued at approximately $37,893,040.09. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Enphase Energy Price Performance

NASDAQ ENPH opened at $26.07 on Friday. Enphase Energy, Inc. has a one year low of $23.83 and a one year high of $73.74. The stock has a 50-day moving average of $31.90 and a 200 day moving average of $40.52. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 38.91 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 posted its 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). Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The company had revenue of $293.33 million for the quarter, compared to the consensus estimate of $304.59 million. During the same quarter in the prior year, the company posted $0.90 EPS. Enphase Energy’s revenue was down 28.5% on a year-over-year basis. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ENPH. Archer Investment Corp bought a new position in shares of Enphase Energy in the second quarter worth about $30,000. Burnham & Co LLC bought a new stake in Enphase Energy during the 2nd quarter valued at approximately $34,000. Continuum Advisory LLC bought a new stake in Enphase Energy during the 2nd quarter valued at approximately $42,000. Allworth Financial LP purchased a new position in Enphase Energy in the 2nd quarter worth approximately $46,000. Finally, FNY Investment Advisers LLC purchased a new position in Enphase Energy in the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ENPH. Northland Securities set a $36.00 target price on shares of Enphase Energy in a research note on Wednesday, October 28th. Citigroup reduced their price objective on Enphase Energy from $37.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Weiss Ratings downgraded Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Morgan Stanley dropped their target price on Enphase Energy from $24.00 to $16.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 28th. Finally, 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 note on Wednesday, October 28th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $35.11.

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.