Kimelman & Baird LLC Takes Position in Enphase Energy, Inc. $ENPH

Kimelman & Baird LLC purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 204,838 shares of the semiconductor company’s stock, valued at approximately $10,086,000. Kimelman & Baird LLC owned about 0.16% of Enphase Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Monaco Asset Management SAM acquired a new stake in shares of Enphase Energy in the 4th quarter worth approximately $2,724,000. Handelsbanken Fonder AB increased its stake in shares of Enphase Energy by 154.9% during the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after acquiring an additional 1,283,052 shares during the period. Vanguard Group Inc. raised its holdings in Enphase Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after purchasing an additional 246,876 shares in the last quarter. First Trust Advisors LP raised its holdings in Enphase Energy by 42.4% during the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock worth $69,359,000 after purchasing an additional 546,460 shares in the last quarter. Finally, SIR Capital Management L.P. acquired a new stake in Enphase Energy in the second quarter worth approximately $10,858,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Price Performance

ENPH opened at $37.25 on Friday. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The firm has a market capitalization of $4.92 billion, a P/E ratio of 37.25 and a beta of 1.64. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average of $41.51 and a 200-day moving average of $43.81.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue was down 19.6% on a year-over-year basis. Equities analysts forecast that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director owned 11,922 shares in the company, valued at approximately $438,252.72. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shanker Trivedi bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at $53,910. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 4,200 shares of company stock valued at $179,000 in the last three months. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $27.00 price target on Enphase Energy in a research report on Friday, May 8th. TD Cowen decreased their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Citigroup lowered their target price on Enphase Energy from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. UBS Group set a $56.00 price target on shares of Enphase Energy in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company cut their price target on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus price target of $45.79.

Enphase Energy Company Profile

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.