Interval Partners LP Invests $593,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

Interval Partners LP purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,950 shares of the semiconductor company’s stock, valued at approximately $593,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. SCP Investment LP purchased a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $355,000. PNC Financial Services Group Inc. boosted its stake in Enphase Energy by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,970 shares of the semiconductor company’s stock worth $1,317,000 after buying an additional 227 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Enphase Energy by 28.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,342 shares of the semiconductor company’s stock valued at $1,631,000 after buying an additional 2,721 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Enphase Energy by 25.0% in the 4th quarter. Stifel Financial Corp now owns 101,140 shares of the semiconductor company’s stock worth $13,365,000 after acquiring an additional 20,247 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in shares of 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 during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 0.3 %

Shares of NASDAQ:ENPH opened at $116.69 on Wednesday. The company has a market capitalization of $15.88 billion, a P/E ratio of 60.78, a P/E/G ratio of 5.84 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The stock’s fifty day simple moving average is $113.08 and its 200-day simple moving average is $114.30. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced 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). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the previous year, the company posted $1.16 EPS. The business’s quarterly revenue was down 57.3% on a year-over-year basis. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group dropped 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 note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Bank of America reduced their target price on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada decreased their price target on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Morgan Stanley raised their price objective on Enphase Energy from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $128.89.

Enphase Energy Company Profile

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.