Tidal Investments LLC Boosts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Tidal Investments LLC boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 121.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,929 shares of the semiconductor company's stock after purchasing an additional 67,411 shares during the period. Tidal Investments LLC owned about 0.09% of Enphase Energy worth $13,893,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ENPH. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Enphase Energy in the second quarter worth about $2,998,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Enphase Energy by 57.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,571 shares of the semiconductor company's stock worth $1,453,000 after purchasing an additional 5,300 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Enphase Energy by 51.0% during the second quarter. Assenagon Asset Management S.A. now owns 101,791 shares of the semiconductor company's stock valued at $10,150,000 after purchasing an additional 34,401 shares during the last quarter. Intellectus Partners LLC lifted its position in Enphase Energy by 7.5% during the second quarter. Intellectus Partners LLC now owns 10,810 shares of the semiconductor company's stock valued at $1,078,000 after purchasing an additional 750 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD grew its stake in shares of Enphase Energy by 10.6% in the 2nd quarter. Mount Vernon Associates Inc. MD now owns 11,305 shares of the semiconductor company's stock worth $1,127,000 after buying an additional 1,080 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of recent research reports. Evercore ISI dropped their target price on Enphase Energy from $133.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Truist Financial cut their price objective on shares of Enphase Energy from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Bank of America lowered their target price on shares of Enphase Energy from $72.00 to $62.00 and set an "underperform" rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group reissued a "hold" rating and issued a $76.00 price objective on shares of Enphase Energy in a research report on Tuesday, November 19th. Finally, Susquehanna dropped their target price on Enphase Energy from $104.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $101.13.

Enphase Energy Stock Up 0.4 %

Enphase Energy stock traded up $0.29 during midday trading on Friday, reaching $73.29. The company's stock had a trading volume of 1,279,576 shares, compared to its average volume of 4,022,558. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The stock has a market capitalization of $9.90 billion, a P/E ratio of 165.91, a PEG ratio of 22.03 and a beta of 1.69. The stock's 50-day simple moving average is $79.39 and its 200-day simple moving average is $102.05. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company had revenue of $380.90 million during the quarter, compared to analysts' expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business's revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. On average, sell-side analysts expect that Enphase Energy, Inc. will post 0.94 EPS 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.