MYDA Advisors LLC Buys New Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

MYDA Advisors LLC bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the semiconductor company's stock, valued at approximately $687,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC increased its position in Enphase Energy by 0.9% during the 4th quarter. MetLife Investment Management LLC now owns 41,504 shares of the semiconductor company's stock valued at $2,850,000 after purchasing an additional 361 shares during the period. Natixis boosted its stake in shares of Enphase Energy by 191.2% during the 4th quarter. Natixis now owns 122,182 shares of the semiconductor company's stock valued at $8,391,000 after purchasing an additional 80,219 shares in the last quarter. Norinchukin Bank The increased its position in shares of Enphase Energy by 6.0% during the fourth quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company's stock valued at $395,000 after buying an additional 328 shares during the period. Ossiam raised its stake in Enphase Energy by 19.2% in the fourth quarter. Ossiam now owns 12,517 shares of the semiconductor company's stock worth $860,000 after buying an additional 2,020 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Enphase Energy by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 586,383 shares of the semiconductor company's stock worth $40,279,000 after buying an additional 77,149 shares during the period. Institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Performance

Shares of ENPH stock traded down $8.25 on Wednesday, reaching $45.18. The stock had a trading volume of 23,358,283 shares, compared to its average volume of 4,060,457. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a 1 year low of $44.92 and a 1 year high of $141.63. The stock has a market cap of $5.99 billion, a P/E ratio of 61.06 and a beta of 1.94. The company has a 50 day simple moving average of $58.58 and a 200 day simple moving average of $68.10.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its 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 return on equity of 15.62% and a net margin of 7.72%. Equities research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial reissued a "hold" rating and issued a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Barclays decreased their price objective on Enphase Energy from $86.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. BMO Capital Markets dropped their target price on shares of Enphase Energy from $59.00 to $46.00 and set a "market perform" rating on the stock in a report on Wednesday. Guggenheim reiterated a "sell" rating and issued a $33.00 price target on shares of Enphase Energy in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price target on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of "Hold" and an average price target of $73.95.

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction 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 transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Enphase Energy 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.