Trexquant Investment LP Purchases 233,645 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Trexquant Investment LP boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 211.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 344,090 shares of the semiconductor company's stock after purchasing an additional 233,645 shares during the quarter. Trexquant Investment LP owned approximately 0.25% of Enphase Energy worth $23,632,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Gould Capital LLC boosted its position in Enphase Energy by 2.1% during the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company's stock worth $1,153,000 after acquiring an additional 212 shares during the period. Resources Management Corp CT ADV lifted its holdings in Enphase Energy by 6.8% in the third quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company's stock worth $513,000 after purchasing an additional 290 shares during the period. Inspire Investing LLC grew its position in Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company's stock valued at $1,098,000 after buying an additional 318 shares in the last quarter. Ingalls & Snyder LLC increased its stake in Enphase Energy by 4.2% during the 3rd quarter. Ingalls & Snyder LLC now owns 7,869 shares of the semiconductor company's stock valued at $889,000 after buying an additional 320 shares during the period. Finally, Quarry LP bought a new stake in shares of Enphase Energy during the 3rd quarter worth about $37,000. 72.12% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

ENPH has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. OTR Global raised Enphase Energy from a "negative" rating to a "mixed" rating in a research note on Friday, December 20th. Morgan Stanley decreased their target price on Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Piper Sandler dropped their price target on shares of Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group raised shares of Enphase Energy from a "hold" rating to a "buy" rating and upped their price target for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $90.36.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded up $0.13 during midday trading on Wednesday, hitting $62.52. The company had a trading volume of 2,068,247 shares, compared to its average volume of 3,957,465. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The business's 50 day simple moving average is $62.23 and its two-hundred day simple moving average is $74.70. The stock has a market cap of $8.28 billion, a PE ratio of 84.49 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

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

Insider Buying and Selling

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company 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.