QRG Capital Management Inc. Buys Shares of 8,247 Enphase Energy, Inc. (NASDAQ:ENPH)

QRG Capital Management Inc. bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,247 shares of the semiconductor company's stock, valued at approximately $512,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional acquired a new stake in Enphase Energy in the 1st quarter valued at approximately $29,000. Venturi Wealth Management LLC lifted its position in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $47,000. GeoWealth Management LLC lifted its position in shares of Enphase Energy by 56.3% in 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. bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Stock Down 1.5%

Shares of Enphase Energy stock opened at $35.85 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. Enphase Energy, Inc. has a 12 month low of $33.01 and a 12 month high of $130.08. The business has a fifty day simple moving average of $45.12 and a 200 day simple moving average of $57.50. The stock has a market cap of $4.70 billion, a PE ratio of 33.19 and a beta of 1.70.

Analyst Upgrades and Downgrades

A number of analysts have commented on ENPH shares. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday. TD Cowen reduced their price objective on Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Redburn Atlantic started coverage on Enphase Energy in a research report on Monday, March 3rd. They issued a "neutral" rating for the company. Finally, KeyCorp reiterated an "underweight" rating and issued a $31.00 price objective on shares of Enphase Energy in a research report on Tuesday, June 17th. Twelve research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $65.44.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by insiders.

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.

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