Tidal Investments LLC Cuts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Tidal Investments LLC reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,603 shares of the semiconductor company’s stock after selling 29,326 shares during the quarter. Tidal Investments LLC owned about 0.07% of Enphase Energy worth $6,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ENPH. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock valued at $1,305,000 after purchasing an additional 8,000 shares during the last quarter. Norges Bank acquired a new position in shares of Enphase Energy during the 4th quarter worth about $46,339,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Enphase Energy in the 4th quarter valued at about $5,324,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $584,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Enphase Energy by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company’s stock valued at $64,354,000 after buying an additional 56,676 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup reissued a “sell” rating and issued a $47.00 price target on shares of Enphase Energy in a research report on Thursday, April 17th. Oppenheimer set a $84.00 target price on shares of Enphase Energy and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Piper Sandler cut their target price on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to an “underperform” rating in a research report on Tuesday, May 13th. Finally, BNP Paribas Exane lowered shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price target for the company. in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $68.87.

Enphase Energy Stock Performance

Shares of ENPH opened at $48.78 on Tuesday. The firm has a 50-day moving average price of $53.21 and a 200 day moving average price of $62.17. The firm has a market capitalization of $6.40 billion, a PE ratio of 65.92 and a beta of 1.80. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 52-week low of $43.09 and a 52-week high of $141.63.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by insiders.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.