Freestone Grove Partners LP Takes Position in Enphase Energy, Inc. $ENPH

Freestone Grove Partners LP acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 334,620 shares of the semiconductor company’s stock, valued at approximately $16,477,000.

Several other hedge funds have also added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Activest Wealth Management increased its holdings in shares of Enphase Energy by 52,000.0% in the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,040 shares in the last quarter. Ascentis Independent Advisors bought a new stake in shares of Enphase Energy in the first quarter worth about $33,000. Burnham & Co LLC acquired a new stake in shares of Enphase Energy during the second quarter worth about $34,000. Finally, Danske Bank A S acquired a new stake in shares of Enphase Energy during the third quarter worth about $39,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Transactions at Enphase Energy

In related news, Director Shanker Trivedi purchased 1,000 shares of Enphase Energy stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $53,910. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the transaction, the director owned 11,922 shares of the company’s stock, valued at approximately $438,252.72. This represents a 14.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 4,200 shares of company stock valued at $179,000. Company insiders own 2.90% of the company’s stock.

Enphase Energy Trading Up 2.2%

NASDAQ ENPH opened at $39.25 on Friday. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The stock’s 50 day moving average price is $41.81 and its two-hundred day moving average price is $43.86. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 39.25 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. As a group, analysts anticipate that Enphase Energy, Inc. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Morgan Stanley set a $27.00 target price on shares of Enphase Energy in a report on Friday, May 8th. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price target on the stock. BMO Capital Markets cut their price target on shares of Enphase Energy from $39.00 to $37.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 29th. Finally, TD Cowen reduced their price target on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.79.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.