Enphase Energy Inc (ENPH) Releases Earnings Results, Misses Expectations By $-0.02 EPS

Enphase Energy Inc (ENPH) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $-0.34 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $-0.32. The company posted revenue of $64.12 million in the period, compared to analysts expectations of $65.60 million. The company’s revenue was down -26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Enphase Energy Inc opened for trading at $2.51 and hit $2.59 on the upside on Monday, eventually ending the session at $2.56, with a gain of 1.99% or 0.05 points. The heightened volatility saw the trading volume jump to 2,12,354 shares. Company has a market cap of $119 M.

In a different news, on Feb 11, 2016, Benjamin John Kortlang (director) purchased 250,000 shares at $2.09 per share price. According to the SEC, on Aug 20, 2015, Paul B Nahi (President and CEO) sold 11,985 shares at $5.36 per share price. On Aug 19, 2015, Kris Sennesael (VP and CFO) sold 7,882 shares at $5.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Enphase Energy Inc. (Enphase) is engaged in designing developing manufacturing and selling microinverter systems for the solar photovoltaic (PV) industry. The Company’s semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level. The Company’s microinverter system consists of three components such as Enphase microinverter which delivers power conversion at the individual solar module level; Envoy communications gateway which is installed in the system owner’s home or business and serves as a networking hub that collects data from the microinverter array and Enlighten Web-based software which collects and analyzes the collected data from the microinverter array. The Company offers microinverter systems to the residential and commercial markets in the United States Canada the United Kingdom France the Benelux region certain other European markets Australia and New Zealand.

Enphase Energy Inc

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