Enphase Energy, Inc. $ENPH Stock: Candriam S.C.A. Grows Position

Candriam S.C.A. boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 52.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,482 shares of the semiconductor company’s stock after purchasing an additional 20,423 shares during the period. Candriam S.C.A.’s holdings in Enphase Energy were worth $1,969,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC lifted its position in Enphase Energy by 6.1% during the 3rd quarter. Kimelman & Baird LLC now owns 217,434 shares of the semiconductor company’s stock worth $7,173,000 after acquiring an additional 12,596 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of Enphase Energy by 24.8% during the third quarter. Alps Advisors Inc. now owns 193,301 shares of the semiconductor company’s stock worth $6,377,000 after purchasing an additional 38,357 shares in the last quarter. CenterBook Partners LP boosted its stake in shares of Enphase Energy by 85.0% in the third quarter. CenterBook Partners LP now owns 59,468 shares of the semiconductor company’s stock valued at $1,962,000 after purchasing an additional 27,322 shares during the period. Compass Financial Management LLC purchased a new position in shares of Enphase Energy in the third quarter valued at $1,199,000. Finally, Hollow Brook Wealth Management LLC purchased a new position in shares of Enphase Energy in the third quarter valued at $330,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 2.4%

Shares of NASDAQ:ENPH opened at $28.30 on Thursday. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 42.24 and a beta of 1.44. Enphase Energy, Inc. has a 1-year low of $23.83 and a 1-year high of $73.74. The company’s fifty day moving average is $32.27 and its two-hundred day moving average is $40.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.56 and a current ratio of 4.09.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Enphase Energy had a return on equity of 9.16% and a net margin of 7.49%. The company had revenue of $293.33 million during the quarter, compared to the consensus estimate of $304.59 million. During the same period last year, the business posted $0.90 EPS. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. Equities analysts anticipate that Enphase Energy, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings lowered shares of Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Barclays lowered their target price on Enphase Energy from $44.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Citigroup dropped their target price on Enphase Energy from $37.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Northland Securities set a $36.00 target price on Enphase Energy in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group set a $30.00 price target on Enphase Energy in a research note on Thursday, October 29th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $35.11.

Insider Transactions at Enphase Energy

In other news, Director Shanker Trivedi purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was purchased at an average cost of $30.59 per share, with a total value of $30,590.00. Following the purchase, the director owned 2,000 shares in the company, valued at $61,180. This trade represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $26.75 per share, for a total transaction of $267,500.00. Following the completion of the acquisition, the chief executive officer owned 1,655,632 shares of the company’s stock, valued at $44,288,156. This trade represents a 0.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Enphase Energy Profile

Enphase Energy, Inc. develops and sells energy technology for solar-powered homes and businesses. Its products include microinverters, which convert the direct current generated by solar panels into alternating current for use in buildings or delivery to the grid, as well as battery storage systems, electric vehicle chargers and related energy management software. The company’s integrated systems are designed to help customers monitor and manage solar generation, energy storage and electricity use.