Clear Street Group Inc. Grows Stake in Enphase Energy, Inc. $ENPH

Clear Street Group Inc. raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 660.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,511 shares of the semiconductor company’s stock after acquiring an additional 206,260 shares during the period. Clear Street Group Inc. owned approximately 0.18% of Enphase Energy worth $7,612,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Monaco Asset Management SAM purchased a new stake in shares of Enphase Energy during the fourth quarter valued at $2,724,000. Coatue Management LLC boosted its position in shares of Enphase Energy by 95.3% during the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after buying an additional 803,945 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Enphase Energy by 695.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 47,787 shares of the semiconductor company’s stock valued at $1,691,000 after buying an additional 41,782 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Enphase Energy by 24.3% during the third quarter. Schroder Investment Management Group now owns 1,024,406 shares of the semiconductor company’s stock valued at $36,254,000 after buying an additional 200,059 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new stake in shares of Enphase Energy during the third quarter valued at $1,039,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 0.6%

ENPH stock opened at $54.59 on Friday. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The business’s 50-day moving average is $45.52 and its two-hundred day moving average is $40.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 54.05 and a beta of 1.60.

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

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 700 shares of the stock in a transaction dated Monday, June 1st. The stock was 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 approximately $893,792.40. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was purchased at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the acquisition, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This trade represents a 0.30% increase in their position. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ENPH has been the topic of several recent analyst reports. UBS Group set a $85.00 price objective on Enphase Energy in a research report on Friday, May 22nd. TD Cowen increased their price objective on Enphase Energy from $35.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, May 29th. Morgan Stanley set a $27.00 price objective on Enphase Energy in a research report on Friday, May 8th. Roth Mkm reaffirmed a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group increased their price objective on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.65.

Enphase Energy Company 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.