Clear Street Group Inc. Buys 206,260 Shares of Enphase Energy, Inc. $ENPH

Clear Street Group Inc. lifted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 660.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 237,511 shares of the semiconductor company’s stock after purchasing an additional 206,260 shares during the quarter. Clear Street Group Inc.’s holdings in Enphase Energy were worth $7,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Entropy Technologies LP raised its stake in shares of Enphase Energy by 247.9% in the fourth quarter. Entropy Technologies LP now owns 39,154 shares of the semiconductor company’s stock worth $1,255,000 after buying an additional 27,899 shares during the period. Aigen Investment Management LP bought a new position in shares of Enphase Energy in the fourth quarter worth about $374,000. Kestra Advisory Services LLC bought a new position in shares of Enphase Energy in the fourth quarter worth about $191,000. Bridgewater Associates LP raised its stake in shares of Enphase Energy by 26.2% in the fourth quarter. Bridgewater Associates LP now owns 263,837 shares of the semiconductor company’s stock worth $8,456,000 after buying an additional 54,781 shares during the period. Finally, Ridge Creek Global Inc bought a new position in shares of Enphase Energy in the fourth quarter worth about $352,000. Institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ENPH. Roth Mkm reaffirmed a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Oppenheimer decreased their target price on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Citigroup decreased their target price on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Jefferies Financial Group lifted their target price on Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings downgraded Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $44.65.

Enphase Energy Stock Down 0.6%

Shares of ENPH opened at $54.59 on Friday. The business’s 50 day moving average is $45.52 and its 200 day moving average is $40.76. The company has a market capitalization of $7.19 billion, a PE ratio of 54.05 and a beta of 1.60. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. Research analysts expect that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the acquisition, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Mora sold 700 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director owned 13,922 shares of the company’s stock, valued at $893,792.40. This represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Enphase Energy Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.