MBB Public Markets I LLC Invests $983,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

MBB Public Markets I LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,855 shares of the semiconductor company’s stock, valued at approximately $983,000.

A number of other hedge funds have also added to or reduced their stakes in ENPH. Dark Forest Capital Management LP increased its position in shares of Enphase Energy by 50.0% in the second quarter. Dark Forest Capital Management LP now owns 3,722 shares of the semiconductor company’s stock valued at $371,000 after acquiring an additional 1,241 shares during the last quarter. Electron Capital Partners LLC increased its position in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Point72 Europe London LLP bought a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $7,256,000. Point72 Hong Kong Ltd acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at approximately $391,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Enphase Energy by 59.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,002 shares of the semiconductor company’s stock valued at $2,593,000 after buying an additional 9,698 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $113.02 on Tuesday. 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 company has a market cap of $15.38 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. The company has a 50 day moving average of $113.60 and a 200-day moving average of $114.13. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share 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 business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period in the prior year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Susquehanna increased their price target on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research note on Monday, July 15th. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $120.00 to $144.00 in a report on Wednesday, August 7th. Barclays dropped their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Roth Mkm reiterated a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their target price on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $128.89.

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.