Intact Investment Management Inc. Invests $74,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

Intact Investment Management Inc. bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,200 shares of the semiconductor company’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisor Resource Council bought a new stake in shares of Enphase Energy in the 1st quarter valued at about $229,000. QRG Capital Management Inc. bought a new stake in shares of Enphase Energy in the 1st quarter valued at about $512,000. Janney Montgomery Scott LLC lifted its stake in shares of Enphase Energy by 248.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,557 shares of the semiconductor company’s stock valued at $903,000 after acquiring an additional 10,377 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of Enphase Energy in the 1st quarter valued at about $261,000. Finally, Bouvel Investment Partners LLC bought a new stake in shares of Enphase Energy in the 1st quarter valued at about $847,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $35.85 on Monday. Enphase Energy, Inc. has a 1-year low of $33.01 and a 1-year high of $130.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. The business has a fifty day moving average price of $45.12 and a 200-day moving average price of $57.50. The company has a market capitalization of $4.70 billion, a PE ratio of 33.19 and a beta of 1.70.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENPH. TD Cowen lowered their target price on Enphase Energy from $78.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Mizuho set a $53.00 price objective on Enphase Energy and gave the stock an “outperform” rating in a report on Monday, June 2nd. Piper Sandler cut their price objective on Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. BMO Capital Markets restated an “underperform” rating and set a $39.00 target price (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada set a $28.00 target price on Enphase Energy and gave the company a “sector perform” rating in a report on Wednesday. Twelve analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.44.

About Enphase Energy

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.