Enphase Energy (NASDAQ:ENPH) Shares Gap Down After Insider Selling

Shares of Enphase Energy Inc (NASDAQ:ENPH) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $23.47, but opened at $23.28. Enphase Energy shares last traded at $24.84, with a volume of 2,079,290 shares trading hands.

Specifically, VP David A. Ranhoff sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.25, for a total value of $877,500.00. Following the sale, the vice president now owns 767,297 shares of the company’s stock, valued at $22,443,437.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $24.75, for a total transaction of $247,500.00. Following the completion of the sale, the chief executive officer now directly owns 390,560 shares in the company, valued at approximately $9,666,360. The disclosure for this sale can be found here. Insiders have sold 107,500 shares of company stock worth $3,174,900 in the last three months. Corporate insiders own 12.46% of the company’s stock.

Several analysts recently weighed in on the stock. TheStreet raised shares of Enphase Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 21st. ValuEngine cut shares of Enphase Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 5th. HC Wainwright raised shares of Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, July 31st. BidaskClub cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. Finally, Deutsche Bank raised shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $100.00 to $120.00 in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Enphase Energy currently has a consensus rating of “Buy” and a consensus target price of $33.85.

The company has a quick ratio of 2.30, a current ratio of 2.44 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $28.80 and its two-hundred day simple moving average is $17.33. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -185.00 and a beta of 0.88.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The company had revenue of $134.09 million for the quarter, compared to analysts’ expectations of $120.36 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 76.7% on a year-over-year basis. Sell-side analysts predict that Enphase Energy Inc will post 0.54 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in Enphase Energy by 0.8% during the first quarter. Rhumbline Advisers now owns 126,367 shares of the semiconductor company’s stock worth $1,166,000 after purchasing an additional 1,052 shares in the last quarter. Aperio Group LLC acquired a new stake in Enphase Energy during the second quarter worth approximately $26,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Enphase Energy by 607.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,430 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Enphase Energy during the second quarter worth approximately $54,000. Finally, Meeder Asset Management Inc. acquired a new stake in Enphase Energy during the second quarter worth approximately $89,000. 43.38% of the stock is currently owned by institutional investors.

About Enphase Energy (NASDAQ:ENPH)

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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