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

Shares of Enphase Energy Inc (NASDAQ:ENPH) gapped down prior to trading 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 changing hands.

Specifically, COO Jeff Mcneil sold 7,500 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $25.08, for a total value of $188,100.00. Following the completion of the sale, the chief operating officer now owns 318,038 shares in the company, valued at $7,976,393.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the stock in a transaction dated 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 owns 390,560 shares of the company’s stock, valued at approximately $9,666,360. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,500 shares of company stock valued at $3,174,900. 12.46% of the stock is owned by corporate insiders.

Several equities research analysts recently weighed in on ENPH shares. Deutsche Bank upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $100.00 to $120.00 in a research note on Wednesday, July 31st. B. Riley reiterated a “buy” rating and issued a $21.00 target price on shares of Enphase Energy in a research note on Wednesday, June 12th. ValuEngine lowered shares of Enphase Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 5th. Oppenheimer increased their price target on shares of Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, BidaskClub lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average 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 stock has a market cap of $2.84 billion, a price-to-earnings ratio of 291.00 and a beta of 0.88. The company’s 50-day moving average is $28.80 and its 200-day moving average is $17.33.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The firm had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The company’s quarterly revenue was up 76.7% compared to the same quarter last year. On average, research analysts forecast that Enphase Energy Inc will post 0.54 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of 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 buying an additional 1,052 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Enphase Energy during the second quarter valued at approximately $26,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of 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 valued at $51,000 after purchasing an additional 2,430 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Enphase Energy during the second quarter valued at approximately $54,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Enphase Energy during the second quarter valued at approximately $89,000. 43.38% of the stock is owned by institutional investors.

Enphase Energy Company Profile (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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