Richard Mora Sells 60,000 Shares of Enphase Energy Inc (NASDAQ:ENPH) Stock

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Enphase Energy Inc (NASDAQ:ENPH) Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $31.03, for a total value of $1,861,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NASDAQ ENPH opened at $34.83 on Thursday. Enphase Energy Inc has a fifty-two week low of $3.70 and a fifty-two week high of $35.09. The firm’s 50-day simple moving average is $24.92 and its 200 day simple moving average is $15.04. 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 $4.13 billion, a P/E ratio of -290.25 and a beta of 1.01.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, beating 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 business had revenue of $134.09 million for the quarter, compared to analysts’ expectations of $120.36 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 76.7% on a year-over-year basis. On average, sell-side analysts anticipate that Enphase Energy Inc will post 0.54 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of ENPH. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Enphase Energy by 30.5% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock valued at $41,667,000 after purchasing an additional 1,053,833 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Enphase Energy during the second quarter valued at about $18,900,000. Renaissance Technologies LLC raised its stake in shares of Enphase Energy by 387.7% during the second quarter. Renaissance Technologies LLC now owns 1,270,628 shares of the semiconductor company’s stock valued at $23,164,000 after purchasing an additional 1,010,100 shares in the last quarter. BlackRock Inc. raised its stake in shares of Enphase Energy by 16.2% during the second quarter. BlackRock Inc. now owns 6,678,030 shares of the semiconductor company’s stock valued at $121,742,000 after purchasing an additional 930,501 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Enphase Energy by 11.5% during the second quarter. Vanguard Group Inc. now owns 5,274,251 shares of the semiconductor company’s stock valued at $96,149,000 after purchasing an additional 544,989 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

A number of equities research analysts have issued reports on the company. TheStreet upgraded Enphase Energy from a “c” rating to a “b-” rating in a research note on Tuesday, May 21st. HC Wainwright upgraded Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, July 31st. Roth Capital raised their target price on Enphase Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, July 29th. 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. Finally, Northland Securities assumed coverage on Enphase Energy in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $24.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. Enphase Energy presently has a consensus rating of “Buy” and an average price target of $32.25.

About Enphase Energy

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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