626 Financial LLC Sells 309 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

626 Financial LLC lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 9.3% during the third quarter, HoldingsChannel reports. The fund owned 3,000 shares of the semiconductor company’s stock after selling 309 shares during the quarter. 626 Financial LLC’s holdings in Enphase Energy were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ENPH. Swedbank AB bought a new stake in shares of Enphase Energy during the first quarter worth about $424,130,000. Baillie Gifford & Co. raised its holdings in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC boosted its position in Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the period. Anomaly Capital Management LP bought a new stake in Enphase Energy during the 2nd quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board bought a new stake in Enphase Energy during the 1st quarter worth approximately $59,128,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several analyst reports. BMO Capital Markets dropped their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday. Canaccord Genuity Group lowered their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Piper Sandler lifted their target price on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Guggenheim decreased their price target on Enphase Energy from $93.00 to $90.00 and set a “sell” rating for the company in a research note on Friday, October 4th. Finally, Royal Bank of Canada downgraded Enphase Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $125.00 to $100.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.74.

Enphase Energy Trading Down 9.3 %

NASDAQ ENPH opened at $92.04 on Wednesday. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The business has a 50 day moving average price of $112.12 and a 200-day moving average price of $113.34. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s quarterly revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

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.