Financial Advocates Investment Management Decreases Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Financial Advocates Investment Management trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,062 shares of the semiconductor company’s stock after selling 866 shares during the quarter. Financial Advocates Investment Management’s holdings in Enphase Energy were worth $210,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC raised its position in Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the period. UMB Bank n.a. raised its position in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC purchased a new stake in Enphase Energy in the 3rd quarter worth about $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the 3rd quarter worth about $34,000. Finally, Quarry LP purchased a new stake in Enphase Energy in the 3rd quarter worth about $37,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Down 0.8 %

Shares of Enphase Energy stock opened at $63.05 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.88. The firm has a fifty day moving average price of $68.37 and a 200 day moving average price of $87.81. Enphase Energy, Inc. has a 1 year low of $58.33 and a 1 year high of $141.63. The stock has a market cap of $8.52 billion, a PE ratio of 85.20, a price-to-earnings-growth ratio of 8.78 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Equities research analysts predict that Enphase Energy, Inc. will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Susquehanna reduced their target price on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.42.

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.