Quest Partners LLC Acquires 3,006 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Quest Partners LLC boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 646.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,471 shares of the semiconductor company’s stock after acquiring an additional 3,006 shares during the quarter. Quest Partners LLC’s holdings in Enphase Energy were worth $392,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ENPH. UMB Bank n.a. grew its stake in shares of Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC acquired a new position in Enphase Energy during the third quarter worth $34,000. Blue Trust Inc. raised its stake in Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 228 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Enphase Energy by 1,727.6% during the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 501 shares during the period. Finally, Family Firm Inc. bought a new stake in shares of Enphase Energy in the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ENPH shares. JPMorgan Chase & Co. cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Canaccord Genuity Group reiterated a “hold” rating and issued a $76.00 target price on shares of Enphase Energy in a research note on Tuesday, November 19th. TD Cowen dropped their price target on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $101.13.

Enphase Energy Trading Up 4.3 %

NASDAQ:ENPH opened at $66.29 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The business’s 50-day simple moving average is $90.93 and its 200-day simple moving average is $106.04. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The stock has a market capitalization of $8.96 billion, a PE ratio of 150.66, a price-to-earnings-growth ratio of 19.49 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the company earned $0.84 EPS. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. Sell-side analysts expect that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

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.