SCP Investment LP Buys New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

SCP Investment LP bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,280 shares of the semiconductor company’s stock, valued at approximately $208,000. Enphase Energy makes up about 0.1% of SCP Investment LP’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Salem Investment Counselors Inc. acquired a new stake in Enphase Energy in the fourth quarter valued at $34,000. Bessemer Group Inc. acquired a new stake in shares of Enphase Energy during the 4th quarter worth about $35,000. Reilly Financial Advisors LLC lifted its stake in shares of Enphase Energy by 129.5% during the 1st quarter. Reilly Financial Advisors LLC now owns 218 shares of the semiconductor company’s stock worth $35,000 after buying an additional 123 shares during the last quarter. Allred Capital Management LLC acquired a new stake in shares of Enphase Energy during the 1st quarter worth about $35,000. Finally, Archer Investment Corp acquired a new stake in shares of Enphase Energy during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 65.68% of the company’s stock.

A number of research firms have recently issued reports on ENPH. Susquehanna upgraded shares of Enphase Energy from a “neutral” rating to a “positive” rating and set a $200.00 target price for the company in a research note on Friday, March 19th. Barclays dropped their price objective on shares of Enphase Energy from $256.00 to $214.00 and set an “overweight” rating for the company in a research note on Thursday, April 22nd. Needham & Company LLC dropped their price objective on shares of Enphase Energy from $240.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, April 28th. Truist Securities dropped their price objective on shares of Enphase Energy from $254.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, April 29th. Finally, Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research note on Monday, April 5th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $175.52.

Shares of NASDAQ ENPH traded up $2.39 during midday trading on Friday, reaching $145.89. The stock had a trading volume of 59,552 shares, compared to its average volume of 3,679,454. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 231.45 and a beta of 1.16. Enphase Energy, Inc. has a twelve month low of $37.81 and a twelve month high of $229.04. The company has a debt-to-equity ratio of 1.25, a quick ratio of 5.10 and a current ratio of 5.20. The firm has a 50 day simple moving average of $141.20.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 27th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.22. Enphase Energy had a net margin of 11.11% and a return on equity of 25.37%. The firm had revenue of $301.80 million for the quarter, compared to the consensus estimate of $291.83 million. During the same quarter in the previous year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, equities research analysts expect that Enphase Energy, Inc. will post 1.71 earnings per share for the current year.

In related news, CAO Mandy Yang sold 6,619 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $129.44, for a total transaction of $856,763.36. Following the transaction, the chief accounting officer now owns 85,675 shares in the company, valued at approximately $11,089,772. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Branderiz sold 62,021 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $156.51, for a total transaction of $9,706,906.71. Following the transaction, the chief financial officer now owns 203,677 shares in the company, valued at approximately $31,877,487.27. The disclosure for this sale can be found here. Insiders have sold a total of 163,003 shares of company stock worth $22,411,077 in the last quarter. 5.00% of the stock is owned by corporate insiders.

About Enphase Energy

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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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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