Enphase Energy, Inc. (ENPH) Shares Bought by Old West Investment Management LLC

Old West Investment Management LLC grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 55.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,619,108 shares of the semiconductor company’s stock after buying an additional 575,453 shares during the period. Enphase Energy accounts for 1.3% of Old West Investment Management LLC’s investment portfolio, making the stock its 27th largest holding. Old West Investment Management LLC owned about 1.89% of Enphase Energy worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Northern Trust Corp boosted its stake in Enphase Energy by 4.6% during the 2nd quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 5,479 shares during the period. First Trust Advisors LP raised its position in Enphase Energy by 55.4% during the 2nd quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock worth $109,000 after buying an additional 44,908 shares during the last quarter. KBC Group NV raised its position in Enphase Energy by 101.3% during the 3rd quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock worth $274,000 after buying an additional 90,665 shares during the last quarter. K2 Principal Fund L.P. raised its position in Enphase Energy by 470.1% during the 2nd quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock worth $381,000 after buying an additional 363,490 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Enphase Energy by 28.2% during the 1st quarter. Renaissance Technologies LLC now owns 523,033 shares of the semiconductor company’s stock worth $717,000 after buying an additional 114,900 shares during the last quarter. Hedge funds and other institutional investors own 22.89% of the company’s stock.

A number of equities analysts have commented on ENPH shares. Craig Hallum restated a “buy” rating and set a $4.00 price objective on shares of Enphase Energy in a research report on Monday, November 20th. Cowen restated a “buy” rating and set a $2.25 price objective on shares of Enphase Energy in a research report on Friday, November 10th. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a research report on Tuesday, September 26th. ValuEngine upgraded shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. Finally, Zacks Investment Research downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Enphase Energy currently has an average rating of “Hold” and an average price target of $2.06.

In related news, Director John Howard Weber sold 55,526 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $2.64, for a total value of $146,588.64. Following the sale, the director now directly owns 35,326 shares of the company’s stock, valued at approximately $93,260.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 40,677 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $1.78 per share, for a total transaction of $72,405.06. Following the completion of the purchase, the chief executive officer now owns 40,677 shares in the company, valued at approximately $72,405.06. The disclosure for this purchase can be found here. Company insiders own 17.37% of the company’s stock.

Enphase Energy, Inc. (ENPH) opened at $2.70 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.30 and a debt-to-equity ratio of -4.75. Enphase Energy, Inc. has a twelve month low of $0.65 and a twelve month high of $3.45.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. The business had revenue of $77.00 million during the quarter, compared to the consensus estimate of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) EPS. analysts expect that Enphase Energy, Inc. will post -0.57 EPS for the current fiscal year.

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About Enphase Energy

Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.

Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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