Clear Harbor Asset Management LLC Invests $7.30 Million in Enphase Energy, Inc. $ENPH

Clear Harbor Asset Management LLC acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, HoldingsChannel.com reports. The fund acquired 148,276 shares of the semiconductor company’s stock, valued at approximately $7,301,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of Nova Scotia bought a new position in Enphase Energy in the 2nd quarter worth $575,000. Northwestern Mutual Wealth Management Co. bought a new stake in Enphase Energy during the second quarter valued at about $1,431,000. Quantbot Technologies LP bought a new stake in Enphase Energy during the second quarter valued at about $112,000. Landscape Capital Management L.L.C. purchased a new stake in Enphase Energy in the second quarter worth about $3,567,000. Finally, Rakuten Securities Inc. purchased a new stake in Enphase Energy in the second quarter worth about $117,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho lowered their price objective on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Evercore reissued a “positive” rating and issued a $41.00 target price on shares of Enphase Energy in a report on Monday, August 17th. Oppenheimer reduced their target price on shares of Enphase Energy from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $56.00 target price on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Enphase Energy in a report on Friday, May 22nd. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $45.79.

Insider Buying and Selling

In other Enphase Energy news, Director Shanker Trivedi purchased 1,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Mora sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was 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 $438,252.72. The trade was a 14.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,200 shares of company stock valued at $179,000. Corporate insiders own 2.90% of the company’s stock.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $38.61 on Friday. The business’s 50-day simple moving average is $42.82 and its two-hundred day simple moving average is $44.05. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The stock has a market cap of $5.10 billion, a PE ratio of 38.61 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.

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

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.