Element Pointe Advisors LLC Invests $528,000 in Enphase Energy, Inc. $ENPH

Element Pointe Advisors LLC bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 13,969 shares of the semiconductor company’s stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Enphase Energy during the 4th quarter worth approximately $118,190,000. Invesco Ltd. grew its stake in Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after acquiring an additional 839,468 shares during the period. Sora Investors LLC bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $25,998,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Enphase Energy by 2,335.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock valued at $28,244,000 after acquiring an additional 765,322 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Enphase Energy during the fourth quarter worth approximately $20,278,000. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Oppenheimer cut their target price on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Glj Research restated a “sell” rating and set a $21.70 price target on shares of Enphase Energy in a research note on Thursday, June 11th. Jefferies Financial Group upped their price objective on shares of Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Barclays raised shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $30.00 to $51.00 in a research note on Thursday, June 18th. Finally, Susquehanna boosted their target price on shares of Enphase Energy from $32.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.20.

Enphase Energy Trading Down 5.1%

NASDAQ:ENPH opened at $39.46 on Tuesday. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.20 billion, a PE ratio of 39.07 and a beta of 1.62. The firm’s 50 day moving average is $51.95 and its 200 day moving average is $43.60. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The business had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.27 million. During the same period in the prior year, the company earned $0.68 earnings per share. Enphase Energy’s revenue was down 20.6% compared to the same quarter last year. Sell-side analysts expect that Enphase Energy, Inc. will post 0.82 earnings per share for the current year.

Insider Activity

In other news, Director Shanker Trivedi acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. This trade represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

Enphase Energy Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.