Hollencrest Capital Management Purchases 500 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Hollencrest Capital Management grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,385 shares of the semiconductor company’s stock after purchasing an additional 500 shares during the quarter. Hollencrest Capital Management’s holdings in Enphase Energy were worth $232,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ENPH. Saturna Capital Corp increased its stake in Enphase Energy by 123.9% during the 4th quarter. Saturna Capital Corp now owns 6,515 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 3,605 shares in the last quarter. Lane Generational LLC increased its stake in Enphase Energy by 132.8% during the 4th quarter. Lane Generational LLC now owns 65,844 shares of the semiconductor company’s stock valued at $4,522,000 after purchasing an additional 37,564 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Enphase Energy by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,526 shares of the semiconductor company’s stock valued at $3,264,000 after purchasing an additional 3,911 shares in the last quarter. Intellectus Partners LLC boosted its holdings in Enphase Energy by 17.4% during the 4th quarter. Intellectus Partners LLC now owns 15,170 shares of the semiconductor company’s stock worth $1,042,000 after acquiring an additional 2,243 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Enphase Energy during the 4th quarter worth $175,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 3.9 %

Shares of ENPH opened at $58.48 on Thursday. The business’s 50-day moving average price is $64.15 and its 200-day moving average price is $80.39. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63. The stock has a market cap of $7.75 billion, a PE ratio of 79.03 and a beta of 2.12. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ENPH shares. TD Cowen cut their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, January 27th. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. BMO Capital Markets cut their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Oppenheimer boosted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Truist Financial reissued a “hold” rating and issued a $65.00 price target (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.42.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

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.