Rhumbline Advisers Buys New Stake in Enphase Energy Inc (ENPH)
Rhumbline Advisers acquired a new stake in Enphase Energy Inc (NASDAQ:ENPH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 87,556 shares of the semiconductor company’s stock, valued at approximately $589,000. Rhumbline Advisers owned approximately 0.09% of Enphase Energy at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Verition Fund Management LLC purchased a new stake in shares of Enphase Energy in the first quarter valued at about $131,000. Jane Street Group LLC purchased a new stake in shares of Enphase Energy in the first quarter valued at about $133,000. Engineers Gate Manager LP purchased a new stake in shares of Enphase Energy in the second quarter valued at about $227,000. Element Capital Management LLC purchased a new stake in shares of Enphase Energy in the first quarter valued at about $334,000. Finally, KBC Group NV boosted its holdings in shares of Enphase Energy by 57.7% in the first quarter. KBC Group NV now owns 90,973 shares of the semiconductor company’s stock valued at $416,000 after acquiring an additional 33,279 shares in the last quarter. Institutional investors and hedge funds own 39.17% of the company’s stock.
ENPH traded up $0.10 during midday trading on Friday, reaching $4.60. 1,360,656 shares of the company’s stock were exchanged, compared to its average volume of 2,626,425. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of -1.11. The stock has a market cap of $469.71 million, a P/E ratio of -8.52 and a beta of 0.30. Enphase Energy Inc has a 1-year low of $1.24 and a 1-year high of $7.60.
In other news, CFO Eric Branderiz acquired 19,880 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average price of $5.03 per share, with a total value of $99,996.40. Following the completion of the transaction, the chief financial officer now directly owns 19,880 shares in the company, valued at approximately $99,996.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was bought at an average price of $4.88 per share, with a total value of $73,200.00. Following the completion of the acquisition, the chief executive officer now owns 95,677 shares of the company’s stock, valued at approximately $466,903.76. The disclosure for this purchase can be found here. Insiders own 13.52% of the company’s stock.
Several analysts have recently weighed in on ENPH shares. ValuEngine raised shares of Enphase Energy from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Tuesday, July 3rd. BidaskClub cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Enphase Energy in a research note on Wednesday, August 1st. Finally, B. Riley set a $8.00 price objective on shares of Enphase Energy and gave the company a “buy” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Enphase Energy currently has an average rating of “Buy” and a consensus target price of $7.21.
Enphase Energy Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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