Clear Harbor Asset Management LLC Has $4.52 Million Stock Position in Enphase Energy, Inc. $ENPH

Clear Harbor Asset Management LLC lowered its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 11.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 127,774 shares of the semiconductor company’s stock after selling 16,892 shares during the period. Clear Harbor Asset Management LLC’s holdings in Enphase Energy were worth $4,522,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in Enphase Energy by 4.5% in the second quarter. QRG Capital Management Inc. now owns 8,616 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 369 shares during the period. Fermata Advisors LLC lifted its holdings in Enphase Energy by 5.8% during the 2nd quarter. Fermata Advisors LLC now owns 7,330 shares of the semiconductor company’s stock worth $291,000 after buying an additional 400 shares during the period. Rakuten Securities Inc. grew its position in shares of Enphase Energy by 33.6% in the 2nd quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 410 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Enphase Energy by 34.8% in the second quarter. Harbour Investments Inc. now owns 1,725 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 445 shares during the period. Finally, Mount Vernon Associates Inc. MD raised its position in shares of Enphase Energy by 3.7% during the second quarter. Mount Vernon Associates Inc. MD now owns 12,760 shares of the semiconductor company’s stock worth $506,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ENPH shares. Loop Capital set a $31.00 target price on shares of Enphase Energy in a research report on Thursday, October 30th. BMO Capital Markets reissued an “underperform” rating and set a $31.00 target price on shares of Enphase Energy in a research note on Wednesday, October 29th. Mizuho lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $37.00 in a report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Enphase Energy in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have assigned a Sell rating to the stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Reduce” and a consensus target price of $40.31.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the sale, the director owned 1,733,596 shares in the company, valued at $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mandy Yang sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. The trade was a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $35.43 on Friday. The firm has a market capitalization of $4.64 billion, a P/E ratio of 24.43 and a beta of 1.35. The firm’s 50-day moving average price is $30.92 and its 200-day moving average price is $34.93. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $70.78.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The company had revenue of $410.43 million during the quarter, compared to the consensus estimate of $364.64 million. During the same period last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Enphase Energy Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.