Alps Advisors Inc. raised its position in shares of Enphase Energy Inc (NASDAQ:ENPH) by 14.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,773 shares of the semiconductor company’s stock after purchasing an additional 21,953 shares during the period. Alps Advisors Inc. owned approximately 0.14% of Enphase Energy worth $3,796,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in Enphase Energy by 109.4% during the third quarter. SG Americas Securities LLC now owns 87,372 shares of the semiconductor company’s stock valued at $1,942,000 after purchasing an additional 45,640 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in Enphase Energy during the third quarter valued at about $200,000. Russell Investments Group Ltd. purchased a new stake in Enphase Energy during the third quarter valued at about $67,000. Clear Harbor Asset Management LLC raised its position in Enphase Energy by 31.9% during the third quarter. Clear Harbor Asset Management LLC now owns 131,997 shares of the semiconductor company’s stock valued at $2,934,000 after purchasing an additional 31,890 shares in the last quarter. Finally, Comerica Bank purchased a new stake in Enphase Energy during the third quarter valued at about $779,000. Institutional investors and hedge funds own 43.50% of the company’s stock.
Shares of NASDAQ:ENPH opened at $18.44 on Friday. The stock’s 50-day moving average price is $23.12 and its 200-day moving average price is $21.33. Enphase Energy Inc has a 12-month low of $4.53 and a 12-month high of $35.42. The stock has a market capitalization of $2.28 billion, a P/E ratio of -153.67 and a beta of 0.83. The company has a current ratio of 2.67, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66.
Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Enphase Energy had a return on equity of 62.77% and a net margin of 8.92%. The firm had revenue of $180.06 million for the quarter, compared to analysts’ expectations of $176.49 million. During the same period last year, the firm earned $0.04 earnings per share. The company’s revenue for the quarter was up 130.8% compared to the same quarter last year. As a group, research analysts predict that Enphase Energy Inc will post 0.61 EPS for the current year.
In other Enphase Energy news, Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $31.03, for a total value of $1,861,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mandy Yang sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $19.07, for a total transaction of $190,700.00. Following the completion of the sale, the chief accounting officer now owns 164,257 shares of the company’s stock, valued at $3,132,380.99. The disclosure for this sale can be found here. Insiders have sold 145,000 shares of company stock worth $3,967,725 over the last ninety days. Insiders own 12.46% of the company’s stock.
ENPH has been the topic of a number of research reports. Oppenheimer raised their price target on Enphase Energy from $13.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BidaskClub upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Craig Hallum set a $31.00 price target on Enphase Energy and gave the company a “buy” rating in a research report on Wednesday, July 31st. Roth Capital set a $30.00 price target on Enphase Energy and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Zacks Investment Research downgraded Enphase Energy from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.59.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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