Connor Clark & Lunn Investment Management Ltd. Invests $5.32 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 77,521 shares of the semiconductor company's stock, valued at approximately $5,324,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Enphase Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENPH. Avior Wealth Management LLC boosted its holdings in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 279 shares during the period. Stone House Investment Management LLC bought a new stake in Enphase Energy during the 3rd quarter valued at $34,000. Quarry LP bought a new stake in Enphase Energy during the 3rd quarter valued at $37,000. Venturi Wealth Management LLC raised its position in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 509 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Enphase Energy during the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ENPH. Truist Financial reaffirmed a "hold" rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. TD Cowen cut their target price on Enphase Energy from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Redburn Atlantic initiated coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a "neutral" rating for the company. The Goldman Sachs Group lowered their price target on shares of Enphase Energy from $121.00 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Finally, Barclays reduced their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $90.42.

Remove Ads

Enphase Energy Price Performance

NASDAQ ENPH traded down $0.62 during trading hours on Thursday, reaching $61.69. The company's stock had a trading volume of 2,073,181 shares, compared to its average volume of 4,234,500. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 83.37 and a beta of 2.12. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company's 50-day moving average is $62.86 and its two-hundred day moving average is $78.09.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

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.