Element Pointe Advisors LLC purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 13,969 shares of the semiconductor company’s stock, valued at approximately $688,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Woodline Partners LP grew its stake in shares of Enphase Energy by 37.9% in the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock worth $694,000 after buying an additional 3,077 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Enphase Energy in the first quarter worth $121,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Enphase Energy in the second quarter worth $1,299,000. Guggenheim Capital LLC increased its holdings in shares of Enphase Energy by 14.1% during the second quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after acquiring an additional 3,273 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Enphase Energy by 11.9% during the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after acquiring an additional 25,450 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.
Enphase Energy Price Performance
Shares of NASDAQ:ENPH opened at $37.58 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 37.58 and a beta of 1.64. The business has a 50-day simple moving average of $43.70 and a two-hundred day simple moving average of $44.07. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on ENPH shares. Roth Capital reiterated a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Citigroup dropped their target price on shares of Enphase Energy from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Wells Fargo & Company cut their price target on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 29th. The Goldman Sachs Group raised their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Glj Research boosted their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the stock a “sell” rating in a report on Tuesday, July 28th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average price target of $45.79.
Check Out Our Latest Stock Analysis on Enphase Energy
Insider Buying and Selling
In other Enphase Energy news, Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director owned 10,422 shares of the company’s stock, valued at approximately $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,200 shares of company stock worth $179,000. 2.90% of the stock is owned by insiders.
About Enphase Energy
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.
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