Exchange Traded Concepts LLC Has $311,000 Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Exchange Traded Concepts LLC raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 821.7% in the third quarter, HoldingsChannel.com reports. The firm owned 2,756 shares of the semiconductor company’s stock after purchasing an additional 2,457 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Enphase Energy were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ENPH. Benjamin Edwards Inc. grew its position in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after buying an additional 93 shares in the last quarter. Fermata Advisors LLC grew its holdings in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management increased its position in shares of Enphase Energy by 3.3% in the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Enphase Energy by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its position in Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 102 shares during the period. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Enphase Energy from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. William Blair assumed coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price target (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Craig Hallum upped their price objective on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Truist Financial decreased their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and an average price target of $122.33.

Enphase Energy Trading Up 0.1 %

ENPH opened at $91.64 on Friday. The stock has a market cap of $12.47 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 5.57 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. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a fifty day moving average of $111.25 and a 200-day moving average of $112.87.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same period last year, the business posted $1.16 earnings per share. The business’s revenue was down 57.3% on a year-over-year basis. On average, sell-side analysts predict 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.