Bridgefront Capital LLC Invests $216,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

Bridgefront Capital LLC bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,144 shares of the semiconductor company’s stock, valued at approximately $216,000.

Several other hedge funds have also modified their holdings of the stock. Venturi Wealth Management LLC grew its position in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Enphase Energy in the fourth quarter valued at $47,000. GeoWealth Management LLC grew its holdings in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 321 shares in the last quarter. Sava Infond d.o.o. purchased a new stake in Enphase Energy during the 4th quarter worth $69,000. Finally, Avior Wealth Management LLC lifted its holdings in Enphase Energy by 269.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock worth $72,000 after buying an additional 762 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 12.1 %

ENPH stock opened at $49.03 on Friday. The stock has a market cap of $6.43 billion, a PE ratio of 66.26 and a beta of 1.80. The firm’s 50-day simple moving average is $54.77 and its 200 day simple moving average is $64.15. Enphase Energy, Inc. has a fifty-two week low of $43.09 and a fifty-two week high of $141.63. 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 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

ENPH has been the subject of several recent analyst reports. Jefferies Financial Group lowered their target price on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a research note on Wednesday, April 23rd. Barclays dropped their price objective on Enphase Energy from $58.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Guggenheim reiterated a “sell” rating and set a $33.00 target price on shares of Enphase Energy in a research note on Wednesday, April 23rd. Citigroup restated a “sell” rating and issued a $47.00 price target on shares of Enphase Energy in a research note on Thursday, April 17th. Finally, TD Cowen reduced their price objective on shares of Enphase Energy from $78.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $70.54.

Insider Activity at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the 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 completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer now directly owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. This trade represents a 0.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is owned by insiders.

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.