Clear Harbor Asset Management LLC Acquires Shares of 148,276 Enphase Energy, Inc. $ENPH

Clear Harbor Asset Management LLC bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 148,276 shares of the semiconductor company’s stock, valued at approximately $7,301,000. Clear Harbor Asset Management LLC owned about 0.11% of Enphase Energy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. Burnham & Co LLC purchased a new position in Enphase Energy in the 2nd quarter worth approximately $34,000. Ascentis Independent Advisors bought a new position in Enphase Energy in the 1st quarter valued at approximately $33,000. Allworth Financial LP bought a new position in Enphase Energy in the 2nd quarter valued at approximately $46,000. Finally, FNY Investment Advisers LLC purchased a new stake in Enphase Energy during the 2nd quarter valued at $48,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Up 0.7%

NASDAQ:ENPH opened at $38.61 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74. The company has a market cap of $5.10 billion, a PE ratio of 38.61 and a beta of 1.64. The company has a 50 day simple moving average of $42.82 and a two-hundred day simple moving average of $44.05.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. Enphase Energy’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. Research analysts forecast that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ENPH shares. Sanford C. Bernstein initiated coverage on Enphase Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 target price for the company. Royal Bank Of Canada lowered their price target on Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. The Goldman Sachs Group increased their price objective on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Mizuho reduced their price objective on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Finally, Susquehanna decreased their target price on Enphase Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.79.

Insider Activity at Enphase Energy

In other news, Director Shanker Trivedi bought 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Mora sold 1,500 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the transaction, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. This represents a 12.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,200 shares of company stock worth $179,000. 2.90% of the stock is owned by insiders.

Enphase Energy Company 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.