BlackRock Inc. raised its stake in shares of Enphase Energy Inc (NASDAQ:ENPH) by 656.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,543,050 shares of the semiconductor company’s stock after acquiring an additional 4,809,849 shares during the period. BlackRock Inc. owned about 5.72% of Enphase Energy worth $37,305,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System bought a new position in Enphase Energy during the 2nd quarter valued at $115,000. SG Americas Securities LLC bought a new position in Enphase Energy during the 2nd quarter valued at $121,000. Verition Fund Management LLC bought a new position in Enphase Energy during the 1st quarter valued at $131,000. Jane Street Group LLC bought a new position in Enphase Energy during the 1st quarter valued at $133,000. Finally, Engineers Gate Manager LP bought a new position in Enphase Energy during the 2nd quarter valued at $227,000. Institutional investors and hedge funds own 39.17% of the company’s stock.
In other Enphase Energy news, CFO Eric Branderiz bought 19,880 shares of the stock in a transaction dated Thursday, August 23rd. The shares were bought at an average cost of $5.03 per share, for a total transaction of $99,996.40. Following the purchase, the chief financial officer now directly owns 19,880 shares of the company’s stock, valued at approximately $99,996.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the stock in a transaction dated Monday, August 20th. The shares were acquired at an average price of $4.88 per share, for a total transaction of $73,200.00. Following the completion of the purchase, the chief executive officer now directly owns 95,677 shares in the company, valued at $466,903.76. The disclosure for this purchase can be found here. Insiders own 13.52% of the company’s stock.
Several equities analysts have weighed in on the company. ValuEngine upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Enphase Energy in a research note on Wednesday, August 1st. Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, July 3rd. BidaskClub cut Enphase Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Finally, B. Riley set a $8.00 target price on Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.21.
NASDAQ ENPH opened at $4.87 on Friday. The firm has a market cap of $469.71 million, a PE ratio of -9.09 and a beta of 0.30. Enphase Energy Inc has a one year low of $1.24 and a one year high of $7.60. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of -1.11.
Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 31st. The semiconductor company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.76 million. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, sell-side analysts forecast that Enphase Energy Inc will post -0.08 EPS for the current fiscal year.
Enphase Energy Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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