Thurman Rodgers Sells 137,250 Shares of Enphase Energy (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) Director Thurman Rodgers sold 137,250 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $43.61, for a total value of $5,985,472.50. Following the sale, the director owned 1,597,641 shares of the company’s stock, valued at approximately $69,673,124.01. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded down $1.19 during trading on Tuesday, hitting $44.70. The company’s stock had a trading volume of 4,527,248 shares, compared to its average volume of 7,157,614. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 34.65 and a beta of 1.35. The company has a 50-day moving average of $41.82 and a 200-day moving average of $36.56. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $64.40.

Enphase Energy (NASDAQ:ENPHGet Free Report) last announced its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The company had revenue of $343.32 million during the quarter, compared to analyst estimates of $340.45 million. During the same period in the previous year, the business posted $0.94 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

ENPH has been the topic of a number of recent research reports. Royal Bank Of Canada raised Enphase Energy from a “sector perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Wednesday, February 4th. Northland Securities upped their price target on Enphase Energy from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. Raymond James Financial initiated coverage on Enphase Energy in a research note on Monday, January 12th. They issued a “market perform” rating on the stock. The Goldman Sachs Group lifted their price objective on Enphase Energy from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Susquehanna reiterated a “neutral” rating and set a $46.00 price objective on shares of Enphase Energy in a research note on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $43.28.

Get Our Latest Stock Analysis on Enphase Energy

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ENPH. PFG Investments LLC increased its stake in Enphase Energy by 2.2% in the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock worth $391,000 after buying an additional 260 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Enphase Energy by 5.5% in the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 319 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 350 shares during the period. GAMMA Investing LLC boosted its stake in shares of Enphase Energy by 19.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 392 shares during the period. Finally, Tempus Wealth Planning LLC grew its position in shares of Enphase Energy by 4.8% during the third quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 394 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Key Stories Impacting Enphase Energy

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Enphase Energy Company Profile

(Get Free Report)

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.

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