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Enphase Energy, Inc. (NASDAQ:ENPH) Executive Vice President and Chief Financial Officer Mandy Yang recently sold shares of the company, according to a regulatory filing. The transaction comes as the stock has declined over 52% in the past year, though InvestingPro data shows management has been actively buying back shares. On March 10, Yang sold 1,319 shares of Enphase Energy common stock at a price of $63.32 per share, totaling $83,519.
Following the transaction, Yang holds 78,524 shares directly. Additionally, Yang maintains indirect ownership of 25,000 shares each in two grantor retained annuity trusts (GRAT 1 and GRAT 2). The shares sold were withheld by Enphase Energy to satisfy tax obligations related to the vesting of restricted stock units granted in February 2022. The stock currently trades at significant valuation multiples, with detailed analysis available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, Enphase Energy reported significant financial results for the fourth quarter of 2024, with revenues of $382.7 million, marking a 26.5% increase year over year, and adjusted earnings per share (EPS) of $0.94, a 74.2% rise from the previous year. The company’s performance was bolstered by strong demand for its microinverters in the U.S., particularly in California, contributing to a sequential 6% revenue increase in the domestic market. However, Enphase Energy faced challenges in Europe, where revenues declined by 25% quarter over quarter due to reduced demand for rooftop solar installations and falling electricity rates.
In response to these developments, several analyst firms adjusted their ratings and price targets for Enphase Energy. Canaccord Genuity upgraded the stock from Hold to Buy, raising the price target to $82, while Northland maintained an Outperform rating with a $90 target. Conversely, Jefferies lowered its price target to $54, maintaining an Underperform rating, citing a subdued first-quarter outlook despite strong fourth-quarter margins. Craig-Hallum also reduced the price target to $101 but kept a Buy rating, acknowledging better-than-expected EBITDA and EPS results.
Enphase Energy also announced the expansion of its grid services programs in North America, including new initiatives in Puerto Rico, Colorado, and Nova Scotia. These programs aim to support grid reliability by utilizing energy stored in home batteries, offering financial incentives to participating homeowners. This expansion underscores Enphase’s commitment to promoting a sustainable energy future and enhancing grid reliability across the region.
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