Van ECK Associates Corp Has $7.82 Million Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Van ECK Associates Corp raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPHFree Report) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,053 shares of the semiconductor company’s stock after buying an additional 1,565 shares during the period. Van ECK Associates Corp’s holdings in Enphase Energy were worth $7,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Enphase Energy by 0.4% in the first quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock valued at $2,820,957,000 after buying an additional 60,024 shares during the period. Geode Capital Management LLC grew its position in shares of Enphase Energy by 3.5% in the second quarter. Geode Capital Management LLC now owns 2,999,370 shares of the semiconductor company’s stock valued at $501,061,000 after purchasing an additional 102,091 shares during the last quarter. Norges Bank acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $325,230,000. Schroder Investment Management Group grew its position in shares of Enphase Energy by 21.9% in the second quarter. Schroder Investment Management Group now owns 1,088,584 shares of the semiconductor company’s stock valued at $182,316,000 after purchasing an additional 195,690 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Enphase Energy by 8.0% in the first quarter. First Trust Advisors LP now owns 970,416 shares of the semiconductor company’s stock valued at $204,059,000 after purchasing an additional 71,680 shares during the last quarter. Institutional investors own 71.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. HSBC downgraded Enphase Energy from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Friday, October 27th. BNP Paribas assumed coverage on Enphase Energy in a research report on Friday, October 20th. They issued a “neutral” rating and a $131.00 target price on the stock. Morgan Stanley upped their target price on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler decreased their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research report on Friday, January 12th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has an average rating of “Moderate Buy” and an average target price of $158.23.

Get Our Latest Analysis on ENPH

Enphase Energy Stock Up 4.8 %

Shares of ENPH opened at $122.47 on Friday. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $231.42. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 2.69 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.13 and a current ratio of 4.59. The stock has a fifty day moving average of $115.40 and a 200-day moving average of $116.14.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman purchased 1,118 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $90.23 per share, for a total transaction of $100,877.14. Following the purchase, the chief executive officer now owns 1,272,015 shares of the company’s stock, valued at $114,773,913.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by corporate insiders.

About Enphase Energy

(Free Report)

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 services.

See Also

Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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