Exchange Traded Concepts LLC Purchases 2,457 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Exchange Traded Concepts LLC raised its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 821.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,756 shares of the semiconductor company’s stock after purchasing an additional 2,457 shares during the period. Exchange Traded Concepts LLC’s holdings in Enphase Energy were worth $311,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its stake in Enphase Energy by 9.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,343 shares of the semiconductor company’s stock worth $574,000 after buying an additional 369 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Enphase Energy by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,970 shares of the semiconductor company’s stock worth $1,317,000 after purchasing an additional 227 shares during the period. HighPoint Advisor Group LLC bought a new position in shares of Enphase Energy during the 4th quarter valued at about $280,000. Fermata Advisors LLC grew its position in shares of Enphase Energy by 1.4% in the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 100 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new stake in Enphase Energy during the 1st quarter worth approximately $272,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $91.64 on Friday. The stock has a market cap of $12.47 billion, a PE ratio of 47.73, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a 50-day moving average of $111.25 and a 200-day moving average of $112.87. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on ENPH. JPMorgan Chase & Co. upped their price target on shares of Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Barclays reduced their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Susquehanna downgraded Enphase Energy from a “positive” rating to a “neutral” rating and dropped their price target for the company from $147.00 to $104.00 in a research note on Wednesday. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Finally, Truist Financial dropped their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $122.33.

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.