Kimelman & Baird LLC Invests $2.44 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Kimelman & Baird LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,417 shares of the semiconductor company’s stock, valued at approximately $2,435,000.

Other hedge funds also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new position in Enphase Energy in the fourth quarter worth approximately $355,000. Steward Partners Investment Advisory LLC boosted its holdings 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 purchasing an additional 2,721 shares in the last quarter. Stifel Financial Corp increased its stake in Enphase Energy by 25.0% in the fourth quarter. Stifel Financial Corp now owns 101,140 shares of the semiconductor company’s stock valued at $13,365,000 after purchasing an additional 20,247 shares during the last quarter. TFO Wealth Partners LLC raised its holdings 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 in the last quarter. Finally, Rathbones Group PLC lifted its position in shares of Enphase Energy by 28.4% during the 4th quarter. Rathbones Group PLC now owns 29,671 shares of the semiconductor company’s stock worth $3,921,000 after buying an additional 6,557 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of recent analyst reports. Bank of America dropped their target price on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Susquehanna boosted their target price on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. BMO Capital Markets raised their price target on Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Craig Hallum boosted their price objective on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler boosted their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $128.89.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $115.00 on Monday. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 59.90, a PEG ratio of 6.19 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm’s fifty day simple moving average is $113.43 and its 200 day simple moving average is $114.12.

Enphase Energy (NASDAQ:ENPH) last posted 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 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 quarter in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. As a group, equities research analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

About Enphase Energy

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.