GAMMA Investing LLC Takes $206,000 Position in Enphase Energy, Inc. (NASDAQ:ENPH)

GAMMA Investing LLC purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,562 shares of the semiconductor company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. E Fund Management Co. Ltd. increased its holdings in Enphase Energy by 5.5% during the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 shares during the period. Covestor Ltd increased its holdings in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the period. Valley Wealth Managers Inc. increased its holdings in Enphase Energy by 12.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 1,323 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 145 shares during the period. Prosperity Wealth Management Inc. increased its holdings in shares of Enphase Energy by 6.3% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 2,520 shares of the semiconductor company’s stock worth $303,000 after buying an additional 150 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in shares of Enphase Energy by 6.5% in the 3rd quarter. Intact Investment Management Inc. now owns 2,450 shares of the semiconductor company’s stock worth $294,000 after buying an additional 150 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley upped their price objective on shares of Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $135.00 to $111.00 in a research note on Wednesday. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $111.00 price objective (down previously from $113.00) on shares of Enphase Energy in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $141.58.

Enphase Energy Stock Up 0.6 %

Shares of Enphase Energy stock opened at $107.83 on Friday. The firm has a market cap of $14.67 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $192.22. The company has a 50-day moving average of $118.79 and a 200 day moving average of $111.93.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, sell-side analysts anticipate that Enphase Energy, Inc. will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is owned by corporate insiders.

About Enphase Energy

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.