Central Asset Investments & Management Holdings HK Ltd reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 54.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,988 shares of the semiconductor company’s stock after selling 4,732 shares during the period. Enphase Energy makes up about 0.5% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 26th biggest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Enphase Energy were worth $668,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. Agur Provident & Training Funds Management Ltd. acquired a new position in shares of Enphase Energy during the 1st quarter worth about $25,000. Geneos Wealth Management Inc. boosted its position in shares of Enphase Energy by 1,400.0% during the second quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Enphase Energy by 278.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock worth $26,000 after buying an additional 114 shares during the period. KB Financial Partners LLC bought a new stake in shares of Enphase Energy in the first quarter worth about $28,000. Finally, Resurgent Financial Advisors LLC acquired a new position in Enphase Energy in the 4th quarter worth $29,000. 71.05% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Enphase Energy from $180.00 to $158.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. Citigroup decreased their price target on Enphase Energy from $170.00 to $167.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. BMO Capital Markets cut Enphase Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $175.00 to $148.00 in a research note on Monday, October 16th. Wells Fargo & Company downgraded shares of Enphase Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $230.00 to $171.00 in a report on Friday, July 28th. Finally, Truist Financial reiterated a “hold” rating and issued a $135.00 price target on shares of Enphase Energy in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $178.17.
Enphase Energy Stock Down 1.0 %
Shares of Enphase Energy stock traded down $0.99 on Tuesday, hitting $97.51. The company had a trading volume of 2,291,662 shares, compared to its average volume of 4,249,042. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $339.92. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.13 and a current ratio of 3.36. The stock has a 50 day moving average of $105.71 and a 200-day moving average of $139.47. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.38 and a beta of 1.59.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $562.27 million. Enphase Energy had a net margin of 21.08% and a return on equity of 63.06%. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 3.34 earnings per share for the current year.
In other Enphase Energy news, Director Thurman J. Rodgers bought 32,600 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average cost of $122.76 per share, with a total value of $4,001,976.00. Following the transaction, the director now directly owns 85,200 shares in the company, valued at approximately $10,459,152. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Badrinarayanan Kothandaraman purchased 1,118 shares of Enphase Energy stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $90.23 per share, for a total transaction of $100,877.14. Following the completion of the transaction, the chief executive officer now owns 1,272,015 shares in the company, valued at $114,773,913.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers acquired 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average cost of $122.76 per share, for a total transaction of $4,001,976.00. Following the acquisition, the director now directly owns 85,200 shares in the company, valued at approximately $10,459,152. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by corporate insiders.
Enphase Energy 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 services.
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