SeaCrest Wealth Management LLC Buys Shares of 7,898 Enphase Energy, Inc. (NASDAQ:ENPH)

SeaCrest Wealth Management LLC bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,898 shares of the semiconductor company's stock, valued at approximately $788,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bogart Wealth LLC acquired a new position in Enphase Energy during the 4th quarter worth $26,000. Manchester Capital Management LLC raised its holdings in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 203 shares during the period. Chilton Capital Management LLC grew its stake in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 246 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Enphase Energy during the 1st quarter valued at $35,000. Finally, Addison Advisors LLC boosted its position in shares of Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 304 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Shares of ENPH stock traded down $2.73 during trading hours on Tuesday, hitting $116.98. The company's stock had a trading volume of 1,018,814 shares, compared to its average volume of 4,035,666. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 60.93, a P/E/G ratio of 5.59 and a beta of 1.71. The business has a fifty day moving average of $110.21 and a 200-day moving average of $115.70.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm's quarterly revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 1.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Truist Financial reduced their price objective on Enphase Energy from $145.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, April 23rd. Wells Fargo & Company cut their target price on Enphase Energy from $141.00 to $130.00 and set an "overweight" rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their price objective on shares of Enphase Energy from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, July 24th. Finally, Glj Research started coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They issued a "sell" rating and a $45.82 price objective for the company. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $128.96.

Insider Activity

In related news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the sale, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the sale, the director now directly owns 1,984,562 shares of the company's stock, valued at approximately $251,106,629.86. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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.