Tidal Investments LLC Sells 29,326 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Tidal Investments LLC decreased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 23.9% during the 4th quarter, HoldingsChannel reports. The fund owned 93,603 shares of the semiconductor company’s stock after selling 29,326 shares during the period. Tidal Investments LLC’s holdings in Enphase Energy were worth $6,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Mandatum Life Insurance Co Ltd raised its holdings in shares of Enphase Energy by 65.5% in the fourth quarter. Mandatum Life Insurance Co Ltd now owns 35,615 shares of the semiconductor company’s stock valued at $2,446,000 after buying an additional 14,098 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Enphase Energy by 93.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,881 shares of the semiconductor company’s stock worth $473,000 after purchasing an additional 3,327 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Enphase Energy by 269.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 762 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after buying an additional 318 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Enphase Energy by 50.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,150 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 1,394 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENPH. Royal Bank of Canada reiterated a “sector perform” rating and set a $54.00 price objective (down previously from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. Citigroup restated a “sell” rating and set a $47.00 price objective on shares of Enphase Energy in a research report on Thursday, April 17th. Barclays downgraded Enphase Energy from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $51.00 to $40.00 in a report on Tuesday, May 13th. BNP Paribas downgraded Enphase Energy from an “outperform” rating to an “underperform” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $68.87.

Enphase Energy Stock Down 3.2%

ENPH opened at $48.78 on Tuesday. The stock has a market cap of $6.40 billion, a PE ratio of 65.92 and a beta of 1.80. 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, Inc. has a 52 week low of $43.09 and a 52 week high of $141.63. The business’s fifty day simple moving average is $53.21 and its 200 day simple moving average is $62.17.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

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.