Enphase Energy, Inc. $ENPH Shares Bought by CenterBook Partners LP

CenterBook Partners LP boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 39.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 333,074 shares of the semiconductor company’s stock after purchasing an additional 95,033 shares during the period. CenterBook Partners LP owned approximately 0.25% of Enphase Energy worth $10,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PFG Investments LLC grew its position in Enphase Energy by 2.2% during the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 260 shares during the period. Swiss Life Asset Management Ltd grew its position in Enphase Energy by 5.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 319 shares during the period. Glass Jacobson Investment Advisors llc grew its position in Enphase Energy by 77.8% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC grew its position in Enphase Energy by 19.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 392 shares during the period. Finally, Tempus Wealth Planning LLC grew its position in Enphase Energy by 4.8% during the 3rd quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 394 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

ENPH stock opened at $56.07 on Monday. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 55.52 and a beta of 1.59. The business’s 50-day moving average is $43.90 and its 200 day moving average is $39.90.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.28 million. During the same period in the previous year, the business earned $0.68 EPS. Enphase Energy’s quarterly revenue was down 20.6% on a year-over-year basis. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Mora sold 700 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00. Following the completion of the sale, the director directly owned 13,922 shares in the company, valued at approximately $893,792.40. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 138,650 shares of company stock worth $6,062,886. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of analyst reports. Susquehanna dropped their target price on Enphase Energy from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Evercore set a $37.00 target price on Enphase Energy in a research report on Monday, May 4th. TD Cowen raised their target price on Enphase Energy from $35.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, May 29th. The Goldman Sachs Group raised their target price on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Citigroup dropped their target price on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.24.

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.