GSA Capital Partners LLP Takes $593,000 Position in Enphase Energy, Inc. (NASDAQ:ENPH)

GSA Capital Partners LLP bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,552 shares of the semiconductor company’s stock, valued at approximately $593,000.

A number of other hedge funds have also recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its stake in Enphase Energy by 0.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $5,421,000 after purchasing an additional 238 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Enphase Energy by 2.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company’s stock worth $643,000 after purchasing an additional 255 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Enphase Energy by 83.0% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 258 shares in the last quarter. Leibman Financial Services Inc. boosted its stake in Enphase Energy by 1.0% in the 1st quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company’s stock worth $1,829,000 after purchasing an additional 305 shares in the last quarter. Finally, McGowan Group Asset Management Inc. boosted its stake in Enphase Energy by 2.0% in the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company’s stock worth $1,145,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ENPH. KeyCorp reiterated an “underweight” rating and issued a $31.00 price target on shares of Enphase Energy in a research note on Tuesday, June 17th. Piper Sandler dropped their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Barclays upped their target price on shares of Enphase Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, July 24th. BNP Paribas Exane cut shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 target price on the stock. in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group lowered their target price on shares of Enphase Energy from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $55.51.

Enphase Energy Trading Down 2.9%

Enphase Energy stock opened at $31.43 on Monday. The firm has a 50 day moving average of $39.81 and a 200 day moving average of $50.81. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 24.55 and a beta of 1.59. Enphase Energy, Inc. has a 12-month low of $31.13 and a 12-month high of $130.08. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $363.15 million during the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. As a group, research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.