Sigma Planning Corp Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Sigma Planning Corp bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,859 shares of the semiconductor company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in shares of Enphase Energy in the 1st quarter valued at about $424,130,000. Baillie Gifford & Co. grew its holdings in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its position in shares of Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy in the 1st quarter valued at $59,128,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Trading Down 6.4 %

Shares of Enphase Energy stock opened at $59.52 on Monday. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 135.27, a price-to-earnings-growth ratio of 18.20 and a beta of 1.77. Enphase Energy, Inc. has a 52-week low of $59.12 and a 52-week high of $141.63. The company’s 50-day simple moving average is $95.27 and its 200-day simple moving average is $107.77. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENPH. Royal Bank of Canada dropped their target price on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $154.00 to $81.00 in a research report on Friday, November 8th. BMO Capital Markets lowered their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Morgan Stanley cut their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, William Blair began coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.76.

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.