Point72 Europe London LLP Invests $7.26 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Point72 Europe London LLP purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 72,774 shares of the semiconductor company's stock, valued at approximately $7,256,000. Point72 Europe London LLP owned about 0.05% of Enphase Energy as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Manchester Capital Management LLC raised its position in Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC raised its holdings in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company's stock valued at $31,000 after buying an additional 246 shares during the period. YHB Investment Advisors Inc. acquired a new position in Enphase Energy during the 1st quarter worth about $35,000. TFO Wealth Partners LLC lifted its stake in Enphase Energy by 6,720.0% during the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 336 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 461 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ENPH shares. Guggenheim increased their price target on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a "sell" rating in a research report on Wednesday, July 24th. BMO Capital Markets increased their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a "market perform" rating in a report on Wednesday, July 24th. Canaccord Genuity Group decreased their price target on shares of Enphase Energy from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Craig Hallum upped their price objective on Enphase Energy from $147.00 to $153.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, Bank of America reduced their price objective on Enphase Energy from $71.00 to $70.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has an average rating of "Hold" and an average target price of $128.89.

Enphase Energy Stock Performance

Shares of ENPH traded down $3.40 during mid-day trading on Wednesday, reaching $113.29. 1,916,722 shares of the company's stock were exchanged, compared to its average volume of 3,803,574. The business's fifty day simple moving average is $113.08 and its 200-day simple moving average is $114.30. The stock has a market capitalization of $15.34 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $303.80 million for the quarter, compared to analysts' expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company's revenue for the quarter 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. On average, equities research analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

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.