Sanctuary Advisors LLC Sells 2,689 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Sanctuary Advisors LLC reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 14.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,149 shares of the semiconductor company’s stock after selling 2,689 shares during the quarter. Sanctuary Advisors LLC’s holdings in Enphase Energy were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in shares of Enphase Energy by 6,975.0% during 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 last quarter. UMB Bank n.a. grew its holdings in Enphase Energy by 784.8% during the third 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 acquired a new position in Enphase Energy during the third quarter worth approximately $34,000. Stone House Investment Management LLC acquired a new position in Enphase Energy during the third quarter worth approximately $34,000. Finally, Quarry LP bought a new stake in Enphase Energy in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ENPH shares. Morgan Stanley reduced their target price on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Piper Sandler reduced their price objective on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Royal Bank of Canada dropped their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $100.33.

Enphase Energy Trading Down 4.4 %

Shares of ENPH stock opened at $65.80 on Friday. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The stock’s fifty day moving average price is $76.04 and its two-hundred day moving average price is $100.07. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market cap of $8.89 billion, a PE ratio of 149.55, a P/E/G ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. Equities analysts predict that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Enphase Energy Profile

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.