PNC Financial Services Group Inc. lowered its position in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 42.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,743 shares of the semiconductor company’s stock after selling 7,296 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Enphase Energy were worth $1,171,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ENPH. Geneos Wealth Management Inc. boosted its holdings in Enphase Energy by 1,400.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after buying an additional 140 shares during the period. KB Financial Partners LLC bought a new position in Enphase Energy in the 1st quarter worth $28,000. First Capital Advisors Group LLC. bought a new position in Enphase Energy in the 2nd quarter worth $28,000. Resurgent Financial Advisors LLC bought a new position in Enphase Energy in the 4th quarter worth $29,000. Finally, VisionPoint Advisory Group LLC bought a new position in Enphase Energy in the 2nd quarter worth $33,000. Institutional investors own 71.05% of the company’s stock.
Enphase Energy Price Performance
Shares of ENPH stock opened at $118.19 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The company has a market capitalization of $16.05 billion, a P/E ratio of 38.62, a P/E/G ratio of 3.36 and a beta of 1.48. The company’s 50-day simple moving average is $119.18 and its two-hundred day simple moving average is $114.23. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $231.42.
Insiders Place Their Bets
In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.
Wall Street Analysts Forecast Growth
ENPH has been the topic of several research analyst reports. Truist Financial upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd. The Goldman Sachs Group decreased their price target on shares of Enphase Energy from $180.00 to $158.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Roth Mkm decreased their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Wells Fargo & Company upgraded shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $98.00 to $141.00 in a research note on Monday, January 8th. Finally, Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.66.
Check Out Our Latest Stock Analysis on Enphase Energy
Enphase Energy Company 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.
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Source: americanbankingnews.com
