Benjamin F. Edwards & Company Inc. Has $32,000 Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Posted by Defense World Staff on Jul 22nd, 2023

Benjamin F. Edwards & Company Inc. decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 86.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150 shares of the semiconductor company’s stock after selling 922 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Enphase Energy were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at $28,000. Resurgent Financial Advisors LLC bought a new stake in Enphase Energy in the 4th quarter valued at $29,000. GPS Wealth Strategies Group LLC bought a new stake in Enphase Energy in the 1st quarter valued at $26,000. Godsey & Gibb Inc. bought a new stake in Enphase Energy in the 4th quarter valued at $35,000. Finally, KB Financial Partners LLC bought a new stake in Enphase Energy in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 71.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Enphase Energy from $281.00 to $230.00 in a research report on Friday, April 28th. Evercore ISI cut their price objective on shares of Enphase Energy from $325.00 to $275.00 in a research report on Wednesday, April 26th. JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $258.00 to $224.00 in a research report on Wednesday. Citigroup cut their price target on shares of Enphase Energy from $267.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets cut their price target on shares of Enphase Energy from $286.00 to $275.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Moderate Buy” and a consensus target price of $268.66.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $177.48 on Friday. The company’s 50 day moving average price is $172.14 and its two-hundred day moving average price is $195.36. Enphase Energy, Inc. has a 12-month low of $152.15 and a 12-month high of $339.92. The firm has a market cap of $24.31 billion, a PE ratio of 51.89, a PEG ratio of 1.83 and a beta of 1.44. The company has a quick ratio of 3.24, a current ratio of 3.45 and a debt-to-equity ratio of 1.24.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The semiconductor company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.27. Enphase Energy had a net margin of 18.83% and a return on equity of 74.86%. The company had revenue of $726.02 million during the quarter, compared to the consensus estimate of $723.44 million. Equities research analysts predict that Enphase Energy, Inc. will post 4.09 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 1,791 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $175.10, for a total transaction of $313,604.10. Following the completion of the sale, the executive vice president now owns 82,644 shares of the company’s stock, valued at approximately $14,470,964.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP David A. Ranhoff sold 1,791 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $175.10, for a total transaction of $313,604.10. Following the completion of the sale, the executive vice president now owns 82,644 shares of the company’s stock, valued at approximately $14,470,964.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers acquired 32,900 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was bought at an average cost of $166.88 per share, with a total value of $5,490,352.00. Following the purchase, the director now owns 32,900 shares in the company, valued at $5,490,352. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by insiders.

About Enphase Energy

(Free Report)

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