Insider Selling: Jeff Loebbaka Sells 13,449 Shares of Enphase Energy Stock (ENPH)
Enphase Energy (NASDAQ:ENPH) SVP Jeff Loebbaka sold 13,449 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $8.49, for a total transaction of $114,182.01. Following the transaction, the senior vice president now directly owns 100,000 shares in the company, valued at approximately $849,000. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at Canaccord Genuity initiated coverage on shares of Enphase Energy in a research note on Wednesday. They set a “buy” rating and a $11.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Enphase Energy currently has an average rating of “Buy” and an average target price of $9.17.
Enphase Energy (NASDAQ:ENPH) traded up 3.20% during mid-day trading on Thursday, hitting $9.36. 383,819 shares of the company’s stock traded hands. Enphase Energy has a 1-year low of $4.54 and a 1-year high of $9.37. The stock’s 50-day moving average is $8.53 and its 200-day moving average is $7.77. The company’s market cap is $398.9 million.
Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, May 6th. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.13) by $0.03. The company had revenue of $57.58 million for the quarter, compared to the consensus estimate of $55.60 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. On average, analysts predict that Enphase Energy will post $-0.05 earnings per share for the current fiscal year.
Enphase Energy, Inc (NASDAQ:ENPH), designs, develops and sells microinverter systems for the solar photovoltaic industry.
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