In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Enphase Energy Inc. (NASDAQ:ENPH) reported that Third Point has picked up 6,248,987 of common stock as of 2017-03-20.
The acquisition brings the aggregate amount owned by Third Point to a total of 6,248,987 representing a 7.6% stake in the company.
For those not familiar with the company, Enphase Energy, Inc. is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity. Its microinverter system consists of three components: Enphase microinverters, an Envoy gateway and Enlighten cloud-based software. Its Enphase microinverters provide power conversion at the individual solar module level by a digital architecture that incorporates custom application specific integrated circuits (ASIC), specialized power electronics devices, and an embedded software subsystem. Envoy bi-directional communications gateway provides collecting and sending data to Enlighten software. Enlighten cloud-based software provides the capabilities to remotely monitor, manage, and maintain an individual system or a fleet of systems.
A glance at Enphase Energy Inc. (NASDAQ:ENPH)’s key stats reveals a current market capitalization of 113.01 Million based on 82.53 Million shares outstanding and a price at last close of $1.34 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-09-23, Kortlang picked up 600,000 at a purchase price of $1.20. This brings their total holding to 852,614 as of the date of the filing.
On the sell side, the most recent transaction saw Nahi unload 1,234 shares at a sale price of $1.05. This brings their total holding to 523,007.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Enphase Energy Inc. (NASDAQ:ENPH) as things move forward to see if its progress aligns with these transactions.
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