A Director at Enphase Energy is Exercising Options


Today it was reported that a Director at Enphase Energy (NASDAQ: ENPH), Richard Mora, exercised options to buy 60,000 ENPH shares at $0.70 a share, for a total transaction value of $42K.

Following this transaction Richard Mora’s holding in the company was increased by 100% to a total of $345.6K.

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Based on Enphase Energy’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $75.9 million and GAAP net loss of $3.74 million. In comparison, last year the company earned revenue of $74.7 million and had a GAAP net loss of $12.09 million. Currently, Enphase Energy has an average volume of 1.09M.

Based on 7 analyst ratings, the analyst consensus is Strong Buy with an average price target of $7.46, reflecting a -23.9% downside. 11 different firms, including Avondale and B.Riley FBR, currently also have a Buy rating on the stock. Starting in June 2018, ENPH received 6 Buy ratings in a row.

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Enphase Energy, Inc. engages in the design, development, manufacture, and sale of microinverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories, and Enlighten and Apps.

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