220,508 Shares in Enphase Energy, Inc. $ENPH Purchased by SIR Capital Management L.P.

Key Points

• SIR Capital Management acquired 220,508 Enphase Energy shares worth approximately $10.86 million, giving it a 0.17% stake and making ENPH its 26th-largest holding.
• Institutional investors own 72.12% of Enphase, while recent insider activity was mixed: a director bought 1,000 shares, but insiders sold 4,200 shares worth $179,000 over the past 90 days.
• Analyst sentiment is mixed, with a consensus rating of Hold and a $45.79 price target. Enphase recently reported $0.46 in quarterly EPS, slightly below estimates, while revenue declined 19.6% year over year to $291.85 million.

SIR Capital Management L.P. acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 220,508 shares of the semiconductor company's stock, valued at approximately $10,858,000. Enphase Energy comprises approximately 1.2% of SIR Capital Management L.P.'s holdings, making the stock its 26th biggest position. SIR Capital Management L.P. owned approximately 0.17% of Enphase Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock worth $25,000 after buying an additional 514 shares during the last quarter. Burnham & Co LLC bought a new stake in shares of Enphase Energy in the 2nd quarter valued at approximately $34,000. Ascentis Independent Advisors acquired a new stake in shares of Enphase Energy during the 1st quarter valued at approximately $33,000. Allworth Financial LP acquired a new stake in shares of Enphase Energy during the 2nd quarter valued at approximately $46,000. Finally, FNY Investment Advisers LLC bought a new position in Enphase Energy during the second quarter worth $48,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Insider Buying and Selling

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of Enphase Energy stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard Mora sold 1,500 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the transaction, the director owned 10,422 shares of the company's stock, valued at approximately $420,631.92. This represents a 12.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,200 shares of company stock worth $179,000. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

ENPH has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on shares of Enphase Energy from $45.00 to $44.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. Glj Research increased their target price on shares of Enphase Energy from $21.70 to $24.47 and gave the stock a "sell" rating in a report on Tuesday, July 28th. Evercore restated a "positive" rating and issued a $41.00 price target on shares of Enphase Energy in a research report on Monday, August 17th. Roth Capital reaffirmed a "buy" rating on shares of Enphase Energy in a report on Friday, May 22nd. Finally, TD Cowen lowered their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.79.

Enphase Energy Stock Down 3.7%

ENPH stock opened at $37.18 on Tuesday. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The firm's 50-day simple moving average is $42.52 and its 200 day simple moving average is $44.10. The stock has a market cap of $4.91 billion, a PE ratio of 37.18 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm had revenue of $291.85 million during the quarter, compared to the consensus estimate of $289.76 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company's revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 0.76 EPS for the current year.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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