SeaCrest Wealth Management LLC Has $841,000 Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

SeaCrest Wealth Management LLC cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,442 shares of the semiconductor company’s stock after selling 456 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Enphase Energy were worth $841,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MN Wealth Advisors LLC raised its position in shares of Enphase Energy by 18.2% during the third quarter. MN Wealth Advisors LLC now owns 6,281 shares of the semiconductor company’s stock worth $710,000 after acquiring an additional 966 shares during the last quarter. Swedbank AB raised its holdings in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Creative Planning raised its holdings in Enphase Energy by 49.7% during the 3rd quarter. Creative Planning now owns 16,204 shares of the semiconductor company’s stock worth $1,831,000 after purchasing an additional 5,379 shares during the last quarter. Martin Capital Advisors LLP boosted its stake in shares of Enphase Energy by 5.1% in the 3rd quarter. Martin Capital Advisors LLP now owns 4,174 shares of the semiconductor company’s stock valued at $472,000 after purchasing an additional 204 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Enphase Energy by 821.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,756 shares of the semiconductor company’s stock worth $311,000 after buying an additional 2,457 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $93.13 on Thursday. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63. The stock has a fifty day moving average of $111.92 and a 200 day moving average of $113.20. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 48.51, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. On average, research analysts expect that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Guggenheim dropped their target price on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a report on Friday, October 4th. Truist Financial cut their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Bank of America increased their price target on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Craig Hallum raised their price objective on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.49.

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.