Merit Financial Group LLC Takes $209,000 Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Merit Financial Group LLC acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,373 shares of the semiconductor company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the 4th quarter valued at about $47,000. GeoWealth Management LLC boosted its stake in 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 purchasing an additional 321 shares during the last quarter. Sava Infond d.o.o. acquired a new position in Enphase Energy during the 4th quarter valued at about $69,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Enphase Energy during the 4th quarter valued at about $96,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of analyst reports. Jefferies Financial Group cut their price target on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a research note on Wednesday, April 23rd. DZ Bank downgraded Enphase Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 23rd. TD Cowen cut their price target on Enphase Energy from $78.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Redburn Atlantic initiated coverage on Enphase Energy in a research note on Monday, March 3rd. They set a “neutral” rating for the company. Finally, Barclays downgraded Enphase Energy from an “overweight” rating to an “underweight” rating and cut their price target for the company from $51.00 to $40.00 in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average price target of $68.31.

Enphase Energy Trading Down 1.3%

Shares of ENPH stock opened at $44.69 on Friday. The company’s fifty day simple moving average is $46.59 and its two-hundred day simple moving average is $59.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy, Inc. has a 1 year low of $37.59 and a 1 year high of $134.99. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 60.39 and a beta of 1.70.

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.