Metis Global Partners LLC Lowers Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Metis Global Partners LLC decreased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,675 shares of the semiconductor company’s stock after selling 1,231 shares during the quarter. Metis Global Partners LLC’s holdings in Enphase Energy were worth $1,998,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. increased its holdings in Enphase Energy by 23.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,306 shares of the semiconductor company’s stock valued at $1,005,000 after purchasing an additional 1,599 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Enphase Energy by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 146,954 shares of the semiconductor company’s stock worth $17,778,000 after purchasing an additional 6,275 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Enphase Energy by 17.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 165,014 shares of the semiconductor company’s stock valued at $19,963,000 after buying an additional 24,317 shares during the period. Banco Santander S.A. lifted its stake in shares of Enphase Energy by 7.8% in the 1st quarter. Banco Santander S.A. now owns 29,895 shares of the semiconductor company’s stock valued at $3,617,000 after purchasing an additional 2,155 shares during the last quarter. Finally, M&G Plc bought a new position in Enphase Energy in the 1st quarter worth $7,244,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

ENPH stock opened at $59.52 on Friday. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The business’s fifty day simple moving average is $95.27 and its two-hundred day simple moving average is $107.76. Enphase Energy, Inc. has a twelve month low of $59.12 and a twelve month high of $141.63. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the company posted $0.84 EPS. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. Analysts predict that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ENPH shares. Citigroup cut their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Wednesday, October 23rd. Susquehanna cut their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Truist Financial decreased their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Morgan Stanley reduced their target price on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $102.76.

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.