Impax Asset Management Group plc Boosts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Impax Asset Management Group plc boosted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 36.6% in the 4th quarter, HoldingsChannel reports. The firm owned 308,875 shares of the semiconductor company’s stock after purchasing an additional 82,766 shares during the period. Impax Asset Management Group plc’s holdings in Enphase Energy were worth $21,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the period. Stone House Investment Management LLC acquired a new position in Enphase Energy in the third quarter valued at $34,000. Quarry LP purchased a new position in Enphase Energy during the third quarter worth about $37,000. Blue Trust Inc. boosted its stake in Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after buying an additional 228 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Enphase Energy in the 3rd quarter valued at about $55,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 1.9 %

ENPH stock opened at $66.08 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a 50 day simple moving average of $66.60 and a 200-day simple moving average of $84.67. The company has a market capitalization of $8.75 billion, a P/E ratio of 89.30 and a beta of 1.68. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENPH. BMO Capital Markets cut their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Truist Financial reaffirmed a “hold” rating and set a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. TD Cowen lowered their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Morgan Stanley dropped their price objective on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Jefferies Financial Group cut Enphase Energy from a “hold” rating to an “underperform” rating and reduced their target price for the company from $93.00 to $61.00 in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.42.

Enphase Energy 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.