Point72 DIFC Ltd Purchases Shares of 3,249 Enphase Energy, Inc. (NASDAQ:ENPH)

Point72 DIFC Ltd acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,249 shares of the semiconductor company’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Manchester Capital Management LLC boosted its stake in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after buying an additional 203 shares during the last quarter. Chilton Capital Management LLC boosted its position in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in Enphase Energy in the first quarter valued at approximately $35,000. TFO Wealth Partners LLC increased its position in Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 336 shares during the last quarter. Finally, Quest Partners LLC raised its stake in Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Glj Research initiated coverage on Enphase Energy in a report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective on the stock. Canaccord Genuity Group reduced their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Finally, Bank of America decreased their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $128.89.

Enphase Energy Stock Performance

Shares of ENPH opened at $113.61 on Friday. The stock has a market capitalization of $15.46 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. The business’s fifty day moving average price is $113.24 and its 200 day moving average price is $114.29. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 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 business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period last year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was down 57.3% on a year-over-year basis. Equities research analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Enphase Energy 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.