Tidal Investments LLC Buys 67,411 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Tidal Investments LLC boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 121.4% in the third quarter, Holdings Channel reports. The firm owned 122,929 shares of the semiconductor company’s stock after purchasing an additional 67,411 shares during the quarter. Tidal Investments LLC’s holdings in Enphase Energy were worth $13,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ENPH. Harbor Capital Advisors Inc. acquired a new stake in shares of Enphase Energy in the 3rd quarter valued at approximately $1,273,000. Charles Schwab Investment Management Inc. boosted its position in Enphase Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after buying an additional 16,234 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Enphase Energy during the third quarter worth $37,475,000. Mizuho Securities USA LLC increased its holdings in shares of Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after buying an additional 438,424 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after acquiring an additional 31,008 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH opened at $73.00 on Friday. Enphase Energy, Inc. has a one year low of $58.33 and a one year high of $141.63. The company has a market cap of $9.86 billion, a PE ratio of 165.91, a P/E/G ratio of 22.03 and a beta of 1.69. The stock has a 50-day moving average of $79.39 and a 200-day moving average of $102.05. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. On average, equities research analysts predict that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENPH. Barclays lowered their target price on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price on the stock. in a report on Wednesday, October 23rd. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Friday, November 8th. Finally, Piper Sandler reduced their price objective on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.13.

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.