Arosa Capital Management LP Decreases Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Arosa Capital Management LP trimmed its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 66.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 35,000 shares of the semiconductor company’s stock after selling 70,000 shares during the period. Enphase Energy makes up 1.5% of Arosa Capital Management LP’s investment portfolio, making the stock its 16th biggest position. Arosa Capital Management LP’s holdings in Enphase Energy were worth $3,956,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the period. UMB Bank n.a. lifted its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new position in Enphase Energy during the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy in the 3rd quarter valued at approximately $34,000. Finally, Blue Trust Inc. raised its holdings in shares of Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 1.4 %

Shares of ENPH stock opened at $71.35 on Monday. The stock has a market cap of $9.64 billion, a P/E ratio of 162.16, a P/E/G ratio of 21.09 and a beta of 1.77. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The business has a fifty day simple moving average of $86.46 and a 200-day simple moving average of $104.68.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. On average, analysts forecast that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on ENPH shares. Citigroup dropped their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. William Blair initiated coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. TD Cowen dropped their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Wednesday, October 23rd. Finally, Hsbc Global Res downgraded shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $101.13.

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.