Appian Way Asset Management LP Purchases New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Appian Way Asset Management LP acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,100 shares of the semiconductor company’s stock, valued at approximately $1,007,000.

Other hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in Enphase Energy in the 2nd quarter valued at $324,000. Marshall Wace LLP raised its holdings in shares of Enphase Energy by 323.8% in the second quarter. Marshall Wace LLP now owns 127,388 shares of the semiconductor company’s stock valued at $12,702,000 after buying an additional 97,326 shares during the last quarter. Resources Management Corp CT ADV boosted its stake in shares of Enphase Energy by 7.0% during the second quarter. Resources Management Corp CT ADV now owns 4,252 shares of the semiconductor company’s stock worth $424,000 after buying an additional 280 shares during the period. Interval Partners LP purchased a new position in shares of Enphase Energy during the second quarter worth about $593,000. Finally, Xponance Inc. increased its position in Enphase Energy by 12.3% in the 2nd quarter. Xponance Inc. now owns 34,212 shares of the semiconductor company’s stock valued at $3,411,000 after acquiring an additional 3,736 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Up 1.8 %

Shares of ENPH opened at $117.00 on Tuesday. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company has a market capitalization of $15.92 billion, a PE ratio of 60.94, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72. The stock has a fifty day moving average of $113.07 and a two-hundred day moving average of $114.39. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

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

Analyst Ratings Changes

Several brokerages have weighed in on ENPH. William Blair started coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Bank of America dropped their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. 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. Canaccord Genuity Group dropped their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $128.89.

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.