MYDA Advisors LLC Purchases New Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

MYDA Advisors LLC acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the semiconductor company’s stock, valued at approximately $687,000.

A number of other large investors have also modified their holdings of the company. Inspire Investing LLC increased its holdings in Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after buying an additional 318 shares during the period. GeoWealth Management LLC boosted its position in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 321 shares in the last quarter. Norinchukin Bank The increased its stake in Enphase Energy by 6.0% in the fourth quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 328 shares during the period. Arizona State Retirement System raised its position in Enphase Energy by 0.9% in the fourth quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company’s stock worth $2,700,000 after purchasing an additional 336 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Enphase Energy by 0.9% during the fourth quarter. MetLife Investment Management LLC now owns 41,504 shares of the semiconductor company’s stock worth $2,850,000 after purchasing an additional 361 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Enphase Energy Stock Performance

Shares of ENPH opened at $52.54 on Friday. The firm’s 50 day moving average price is $59.33 and its two-hundred day moving average price is $69.01. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a twelve month low of $47.48 and a twelve month high of $141.63. The firm has a market cap of $6.96 billion, a P/E ratio of 71.00 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Glj Research reissued a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Citigroup restated a “sell” rating and issued a $47.00 price target on shares of Enphase Energy in a research report on Thursday. Truist Financial reissued a “hold” rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $82.00 in a research note on Wednesday, February 5th. Finally, Craig Hallum lowered their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $82.85.

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.