K.J. Harrison & Partners Inc Acquires Shares of 15,000 Enphase Energy, Inc. $ENPH

K.J. Harrison & Partners Inc bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHFree Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 15,000 shares of the semiconductor company’s stock, valued at approximately $739,000.

Other large investors also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after buying an additional 514 shares during the period. Activest Wealth Management raised its position in shares of Enphase Energy by 52,000.0% in the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,040 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of Enphase Energy in the 1st quarter valued at approximately $33,000. Danske Bank A S bought a new position in Enphase Energy during the 3rd quarter worth approximately $39,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in Enphase Energy during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Down 4.5%

Shares of ENPH stock opened at $38.65 on Tuesday. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $44.02 and a 200-day moving average of $44.09. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 38.65 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPHGet Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company had revenue of $291.85 million during the quarter, compared to the consensus estimate of $289.76 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s revenue was down 19.6% compared to the same quarter last year. As a group, equities research analysts predict that Enphase Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at approximately $111,080,160. The trade was a 0.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Mora sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the transaction, the director directly owned 11,922 shares of the company’s stock, valued at approximately $438,252.72. This trade represents a 14.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,200 shares of company stock worth $179,000. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho lowered their target price on shares of Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Glj Research boosted their price target on shares of Enphase Energy from $21.70 to $24.47 and gave the company a “sell” rating in a report on Tuesday, July 28th. Citigroup decreased their price target on shares of Enphase Energy from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada dropped their price objective on Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.79.

View Our Latest Analysis on ENPH

About Enphase Energy

(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.

Further Reading

Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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