Aigen Investment Management LP Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• Aigen Investment Management LP has initiated a new investment in Enphase Energy, acquiring 7,764 shares valued at approximately $482,000 during the first quarter.
• Institutional ownership of Enphase Energy stands at 72.12%, with several firms increasing their stakes significantly, including Connor Clark & Lunn Investment Management raising theirs by 228.5%.
• Analyst ratings for Enphase Energy are mixed, with the company receiving thirteen sell ratings, indicating bearish sentiment, while the consensus price target is $55.22.

Aigen Investment Management LP purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,764 shares of the semiconductor company's stock, valued at approximately $482,000.

Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its position in Enphase Energy by 0.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock worth $5,421,000 after acquiring an additional 238 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Enphase Energy by 2.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company's stock worth $643,000 after acquiring an additional 255 shares in the last quarter. First Horizon Advisors Inc. raised its position in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Leibman Financial Services Inc. raised its position in Enphase Energy by 1.0% in the first quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company's stock worth $1,829,000 after acquiring an additional 305 shares in the last quarter. Finally, McGowan Group Asset Management Inc. raised its position in Enphase Energy by 2.0% in the fourth quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock worth $1,145,000 after acquiring an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Down 5.8%

Enphase Energy stock traded down $2.00 during midday trading on Thursday, hitting $32.22. 10,114,654 shares of the company were exchanged, compared to its average volume of 9,194,510. The company's fifty day moving average price is $38.25 and its 200-day moving average price is $49.06. The company has a market cap of $4.21 billion, a PE ratio of 25.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. Enphase Energy, Inc. has a fifty-two week low of $29.89 and a fifty-two week high of $130.08.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The company had revenue of $363.15 million for the quarter, compared to the consensus estimate of $359.14 million. During the same period in the previous year, the business earned $0.43 EPS. Enphase Energy's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the acquisition, the chief executive officer directly owned 1,620,632 shares of the company's stock, valued at $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on ENPH shares. Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the stock a "sector perform" rating in a research report on Wednesday, June 18th. BMO Capital Markets reiterated an "underperform" rating and set a $39.00 price objective (down previously from $46.00) on shares of Enphase Energy in a research report on Tuesday, May 13th. Canaccord Genuity Group dropped their price objective on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Mizuho dropped their price objective on Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, July 14th. Finally, BNP Paribas Exane cut Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective for the company. in a research report on Tuesday, May 13th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and an average price target of $55.22.

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.