Enphase Energy (NASDAQ:ENPH) Stock: Insider Badrinarayanan Kothandaraman Purchases 10,000 Shares

Enphase Energy, Inc. (NASDAQ:ENPH) CEO Badrinarayanan Kothandaraman acquired 10,000 shares of Enphase Energy stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $26.75 per share, for a total transaction of $267,500.00. Following the purchase, the chief executive officer directly owned 1,655,632 shares in the company, valued at $44,288,156. The trade was a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Enphase Energy Stock Up 8.9%

Shares of NASDAQ:ENPH opened at $30.42 on Wednesday. Enphase Energy, Inc. has a 52 week low of $23.83 and a 52 week high of $73.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.56 and a current ratio of 4.09. The company has a market capitalization of $4.02 billion, a PE ratio of 45.40 and a beta of 1.44. The company has a 50 day moving average price of $33.28 and a two-hundred day moving average price of $40.89.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $293.33 million during the quarter, compared to analyst estimates of $304.59 million. Enphase Energy had a return on equity of 9.16% and a net margin of 7.49%. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. Analysts forecast that Enphase Energy, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENPH shares. JPMorgan Chase & Co. reduced their target price on Enphase Energy from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, October 28th. Glj Research lowered their price target on Enphase Energy from $24.47 to $21.49 and set a “sell” rating for the company in a report on Monday, October 26th. Craig Hallum set a $38.00 price target on Enphase Energy in a research report on Wednesday, October 28th. Oppenheimer lowered Enphase Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings cut Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.11.

Enphase Energy News Roundup

Here are the key news stories impacting Enphase Energy this week:

• Positive Sentiment: CEO Badrinarayanan Kothandaraman bought 10,000 shares for about $267,500, and director Shanker Trivedi bought 1,000 shares for about $30,590. The purchases may bolster confidence following the stock’s recent decline. CEO SEC filing Director SEC filing
• Positive Sentiment: Enphase participated in a second consecutive session of gains across solar stocks as investors looked toward a busy earnings calendar. The sector rebound helped lift the shares. Solar sector rebound
• Negative Sentiment: Recent quarterly results missed expectations: EPS was $0.41 versus $0.51 expected, revenue was $293.3 million versus $304.6 million expected, and revenue declined 28.5% year over year. Analyst price-target and earnings-estimate cuts, including a reported 20.46% reduction in the consensus target to $35.81, underscore concerns about the outlook. Consensus target reduction

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently added to or reduced their stakes in ENPH. Saturna Capital Corp grew its holdings in shares of Enphase Energy by 4.2% during the first quarter. Saturna Capital Corp now owns 10,957 shares of the semiconductor company’s stock worth $414,000 after buying an additional 442 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Enphase Energy by 4.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,282 shares of the semiconductor company’s stock valued at $389,000 after buying an additional 481 shares during the last quarter. Keybank National Association OH raised its position in Enphase Energy by 3.9% in the 1st quarter. Keybank National Association OH now owns 12,733 shares of the semiconductor company’s stock valued at $481,000 after buying an additional 481 shares during the last quarter. Archer Investment Corp bought a new stake in Enphase Energy in the 2nd quarter valued at approximately $30,000. Finally, Green Alpha Advisors LLC lifted its stake in Enphase Energy by 4.2% in the 3rd quarter. Green Alpha Advisors LLC now owns 16,974 shares of the semiconductor company’s stock valued at $560,000 after acquiring an additional 686 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Company Profile

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.