Enphase Energy (NASDAQ:ENPH) CEO Buys $337,500.00 in Stock

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the transaction, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. This represents a 0.30% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Enphase Energy Stock Up 4.5%

Shares of NASDAQ:ENPH traded up $2.87 during trading on Tuesday, hitting $66.90. The stock had a trading volume of 11,622,728 shares, compared to its average volume of 9,546,571. The company has a market capitalization of $8.82 billion, a PE ratio of 66.24 and a beta of 1.26. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $40.09 and its 200 day moving average is $37.81. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $68.90.

Enphase Energy (NASDAQ:ENPHGet Free Report) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Analysts anticipate that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in ENPH. Norges Bank purchased a new position in shares of Enphase Energy during the fourth quarter valued at approximately $118,190,000. Invesco Ltd. lifted its holdings in shares of Enphase Energy by 36.2% during the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after purchasing an additional 839,468 shares during the last quarter. Sora Investors LLC purchased a new position in shares of Enphase Energy during the fourth quarter valued at approximately $25,998,000. Coatue Management LLC lifted its holdings in shares of Enphase Energy by 95.3% during the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after purchasing an additional 803,945 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Enphase Energy by 2,335.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock valued at $28,244,000 after purchasing an additional 765,322 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ENPH shares. Roth Mkm restated a “buy” rating on shares of Enphase Energy in a research note on Friday. Morgan Stanley set a $27.00 target price on Enphase Energy in a research note on Friday, May 8th. The Goldman Sachs Group raised their target price on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Barclays lowered their target price on Enphase Energy from $31.00 to $30.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Finally, Glj Research set a $21.70 target price on shares of Enphase Energy in a report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $42.78.

Check Out Our Latest Analysis on ENPH

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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