Clear Harbor Asset Management LLC Has $4.52 Million Stock Position in Enphase Energy, Inc. $ENPH

Clear Harbor Asset Management LLC cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 11.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,774 shares of the semiconductor company’s stock after selling 16,892 shares during the period. Clear Harbor Asset Management LLC owned approximately 0.10% of Enphase Energy worth $4,522,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Invesco Ltd. boosted its holdings in Enphase Energy by 28.1% in the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock valued at $267,387,000 after purchasing an additional 1,479,153 shares during the period. Geode Capital Management LLC raised its position in shares of Enphase Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company’s stock valued at $140,217,000 after buying an additional 73,459 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Enphase Energy by 264.7% in the second quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock valued at $58,593,000 after buying an additional 1,072,602 shares during the period. Assenagon Asset Management S.A. grew its position in Enphase Energy by 827.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after buying an additional 1,028,259 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Enphase Energy by 56.6% during the 2nd quarter. Marshall Wace LLP now owns 1,047,491 shares of the semiconductor company’s stock worth $41,533,000 after acquiring an additional 378,659 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Up 2.1%

ENPH opened at $35.43 on Friday. The company’s 50 day moving average is $30.92 and its 200-day moving average is $34.93. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $70.78. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57. The company has a market cap of $4.64 billion, a P/E ratio of 24.43 and a beta of 1.35.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The business had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $30.93 per share, for a total transaction of $309,300.00. Following the completion of the transaction, the chief executive officer owned 1,630,632 shares of the company’s stock, valued at $50,435,447.76. This trade represents a 0.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total value of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut their target price on Enphase Energy from $33.00 to $31.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 29th. Evercore ISI set a $33.00 price objective on shares of Enphase Energy in a research report on Wednesday, October 29th. Barclays increased their price objective on shares of Enphase Energy from $29.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Finally, Zacks Research downgraded shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and thirteen have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $40.31.

Enphase Energy 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.