Point72 Hong Kong Ltd Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Point72 Hong Kong Ltd acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,918 shares of the semiconductor company’s stock, valued at approximately $391,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. SCP Investment LP bought a new position in Enphase Energy in the fourth quarter valued at approximately $355,000. Steward Partners Investment Advisory LLC boosted its stake in Enphase Energy by 28.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,342 shares of the semiconductor company’s stock valued at $1,631,000 after acquiring an additional 2,721 shares during the last quarter. Stifel Financial Corp raised its holdings in Enphase Energy by 25.0% in the fourth quarter. Stifel Financial Corp now owns 101,140 shares of the semiconductor company’s stock worth $13,365,000 after purchasing an additional 20,247 shares during the period. TFO Wealth Partners LLC raised its holdings in Enphase Energy by 6,720.0% in 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 period. Finally, Rathbones Group PLC raised its holdings in Enphase Energy by 28.4% in the fourth quarter. Rathbones Group PLC now owns 29,671 shares of the semiconductor company’s stock worth $3,921,000 after purchasing an additional 6,557 shares during the period. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

ENPH has been the topic of several analyst reports. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a report on Monday, June 10th. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $120.00 to $144.00 in a report on Wednesday, August 7th. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Guggenheim raised their price objective on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. Finally, Glj Research started coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price target on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $128.89.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $113.61 on Friday. The firm has a 50 day moving average of $113.24 and a 200-day moving average of $114.29. The stock has a market capitalization of $15.46 billion, a PE ratio of 59.17, a PEG ratio of 6.19 and a beta of 1.72. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $141.63. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same quarter in the prior year, the company earned $1.16 earnings per share. Enphase Energy’s revenue for the quarter was down 57.3% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

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.