GSA Capital Partners LLP Buys New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• GSA Capital Partners LLP acquired 9,552 shares of Enphase Energy, Inc. for approximately $593,000 in the first quarter, joining a number of other institutional investors buying shares of the company.
• Recent reports show analysts are generally pessimistic, with many lowering their price targets and assigning sell ratings, while Enphase has an average price target of $55.51.
• Enphase Energy reported a quarterly earnings per share (EPS) of $0.69, surpassing estimates, with a 19.7% year-over-year revenue increase, totaling $363.15 million.

GSA Capital Partners LLP purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 9,552 shares of the semiconductor company's stock, valued at approximately $593,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional acquired a new position in Enphase Energy during the 1st quarter valued at about $29,000. First Horizon Advisors Inc. raised its position in shares of Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after buying an additional 258 shares in the last quarter. GeoWealth Management LLC raised its position in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after buying an additional 321 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of Enphase Energy during the 1st quarter worth about $74,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Enphase Energy during the 4th quarter worth about $103,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Up 0.7%

ENPH stock traded up $0.22 during trading hours on Tuesday, hitting $31.91. The company's stock had a trading volume of 4,584,519 shares, compared to its average volume of 9,033,548. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $4.17 billion, a PE ratio of 24.93 and a beta of 1.59. Enphase Energy, Inc. has a 12 month low of $31.13 and a 12 month high of $130.08. The stock has a 50 day moving average price of $39.48 and a two-hundred day moving average price of $50.46.

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

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of recent analyst reports. Glj Research dropped their price target on shares of Enphase Energy from $31.11 to $19.80 and set a "sell" rating on the stock in a research report on Tuesday, July 22nd. The Goldman Sachs Group restated a "sell" rating and set a $32.00 price target (down from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Truist Financial dropped their price target on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Susquehanna dropped their target price on shares of Enphase Energy from $51.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, July 21st. Finally, Mizuho dropped their target price on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and an average target price of $55.22.

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.