37,500 Shares in Enphase Energy, Inc. $ENPH Acquired by Ardsley Advisory Partners LP

Key Points

• Ardsley Advisory Partners LP opened a new position in Enphase Energy during the fourth quarter, buying 37,500 shares valued at about $1.2 million.
• Institutional interest in Enphase remains high, with hedge funds and other investors owning 72.12% of the company’s stock; several large holders also increased their stakes last quarter.
• Analysts are mixed on the stock: Enphase has a consensus rating of Hold and an average price target of $45.70, even after some firms raised targets and reiterated bullish ratings.

Ardsley Advisory Partners LP purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,500 shares of the semiconductor company's stock, valued at approximately $1,204,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Enphase Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company's stock worth $523,365,000 after buying an additional 246,876 shares during the last quarter. Norges Bank purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $118,190,000. Geode Capital Management LLC grew its stake in shares of Enphase Energy by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company's stock worth $80,478,000 after buying an additional 11,220 shares during the last quarter. Coatue Management LLC grew its stake in shares of Enphase Energy by 95.3% in the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company's stock worth $58,319,000 after buying an additional 803,945 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Enphase Energy by 56.8% in the 4th quarter. Schroder Investment Management Group now owns 1,606,093 shares of the semiconductor company's stock worth $51,475,000 after buying an additional 581,687 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insider Activity

In other news, Director Richard Mora sold 700 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00. Following the transaction, the director directly owned 13,922 shares of the company's stock, valued at $893,792.40. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shanker Trivedi bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Roth Mkm reiterated a "buy" rating on shares of Enphase Energy in a research note on Friday, May 22nd. The Goldman Sachs Group increased their target price on Enphase Energy from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Morgan Stanley set a $27.00 target price on Enphase Energy in a research note on Friday, May 8th. UBS Group set a $85.00 target price on Enphase Energy in a research note on Friday, May 22nd. Finally, TD Cowen increased their target price on Enphase Energy from $35.00 to $70.00 and gave the company a "hold" rating in a research note on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.70.

Enphase Energy Price Performance

NASDAQ ENPH opened at $47.78 on Thursday. The business's fifty day moving average price is $46.46 and its 200-day moving average price is $41.33. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 47.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $73.74.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million for the quarter, compared to analysts' expectations of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company's revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts predict that Enphase Energy, Inc. will post 0.84 earnings per share for the current year.

Enphase Energy Company Profile

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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