Phoenix Financial Ltd. Buys 151,726 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• Phoenix Financial Ltd. has significantly increased its stake in Enphase Energy, Inc. by 73.3%, acquiring an additional 151,726 shares and bringing its total ownership to approximately 0.27% valued at $22.26 million.
• Multiple research analysts have set new price targets for Enphase Energy, with ratings varying from "hold" to "underperform," and the average target price is currently $55.86.
• Enphase Energy reported a quarterly earnings per share of $0.69, beating estimates, with revenues up 19.7% year-over-year at $363.15 million.

Phoenix Financial Ltd. increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 73.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,600 shares of the semiconductor company's stock after purchasing an additional 151,726 shares during the quarter. Phoenix Financial Ltd. owned approximately 0.27% of Enphase Energy worth $22,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. CX Institutional acquired a new stake in Enphase Energy during the 1st quarter worth about $29,000. First Horizon Advisors Inc. boosted its position in 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 acquiring an additional 258 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Enphase Energy during the 4th quarter worth about $47,000. GeoWealth Management LLC boosted its position in 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 acquiring an additional 321 shares during the period. Finally, Sava Infond d.o.o. acquired a new stake in Enphase Energy during the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Price Performance

ENPH stock traded down $1.02 during trading on Tuesday, hitting $33.93. The company had a trading volume of 3,794,048 shares, compared to its average volume of 6,412,546. The company has a fifty day moving average price of $40.68 and a two-hundred day moving average price of $51.73. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.44 billion, a P/E ratio of 26.52 and a beta of 1.67. Enphase Energy, Inc. has a fifty-two week low of $33.01 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 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $359.14 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's revenue was up 19.7% on a year-over-year basis. Equities research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Enphase Energy from $49.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, July 24th. BNP Paribas Exane lowered Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target for the company. in a report on Tuesday, May 13th. The Goldman Sachs Group reiterated a "sell" rating and set a $32.00 price target (down from $77.00) on shares of Enphase Energy in a report on Wednesday, July 9th. Piper Sandler reduced their price target on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on Enphase Energy from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Thirteen analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and a consensus target price of $55.86.

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.