Edgestream Partners L.P. Makes New Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Edgestream Partners L.P. bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 18,921 shares of the semiconductor company’s stock, valued at approximately $2,138,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares in the last quarter. UMB Bank n.a. raised its position 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 period. nVerses Capital LLC bought a new stake in Enphase Energy during the third quarter valued at about $34,000. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy in the third quarter valued at about $34,000. Finally, Quest Partners LLC boosted its position in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH opened at $75.12 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy, Inc. has a one year low of $58.33 and a one year high of $141.63. The firm has a 50-day moving average of $86.46 and a 200-day moving average of $104.60. The company has a market cap of $10.15 billion, a PE ratio of 170.73, a price-to-earnings-growth ratio of 21.09 and a beta of 1.77.

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

Wall Street Analysts Forecast Growth

ENPH has been the subject of several analyst reports. Truist Financial lowered their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Oppenheimer lowered their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets reduced their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Raymond James decreased their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, William Blair initiated coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $101.13.

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.