Enphase Energy, Inc. $ENPH Shares Purchased by CenterBook Partners LP

CenterBook Partners LP lifted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 85.0% during the 3rd quarter, Holdings Channel reports. The firm owned 59,468 shares of the semiconductor company’s stock after acquiring an additional 27,322 shares during the period. CenterBook Partners LP’s holdings in Enphase Energy were worth $1,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ENPH. Archer Investment Corp purchased a new position in shares of Enphase Energy in the second quarter worth $30,000. Ascentis Independent Advisors bought a new stake in Enphase Energy during the 1st quarter valued at $33,000. Burnham & Co LLC bought a new stake in Enphase Energy during the 2nd quarter valued at $34,000. Continuum Advisory LLC purchased a new stake in Enphase Energy during the 2nd quarter valued at $42,000. Finally, Allworth Financial LP purchased a new stake in Enphase Energy during the 2nd quarter valued at $46,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $28.47 on Monday. The business has a 50 day moving average of $32.76 and a 200 day moving average of $40.81. Enphase Energy, Inc. has a 52 week low of $23.83 and a 52 week high of $73.74. The company has a market cap of $3.77 billion, a PE ratio of 42.49 and a beta of 1.44. The company has a quick ratio of 3.56, a current ratio of 4.09 and a debt-to-equity ratio of 0.46.

Enphase Energy (NASDAQ:ENPH) last released its quarterly 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 company had revenue of $293.33 million during the quarter, compared to the consensus estimate of $304.59 million. Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The business’s revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Enphase Energy from $24.00 to $16.00 and set an “underweight” rating on the stock in a report on Wednesday, October 28th. TD Cowen decreased their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. UBS Group set a $56.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 29th. Susquehanna dropped their target price on shares of Enphase Energy from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. Finally, Royal Bank Of Canada dropped their target price on shares of Enphase Energy from $41.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.11.

Insider Transactions at Enphase Energy

In related news, Director Shanker Trivedi bought 1,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were purchased at an average price of $30.59 per share, with a total value of $30,590.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at approximately $61,180. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.36, for a total transaction of $60,540.00. Following the transaction, the director owned 10,422 shares in the company, valued at $420,631.92. This represents a 12.58% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.90% of the company’s stock.

Enphase Energy 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.