Arosa Capital Management LP Sells 70,000 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Arosa Capital Management LP trimmed its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 66.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the semiconductor company’s stock after selling 70,000 shares during the period. Enphase Energy accounts for 1.5% of Arosa Capital Management LP’s portfolio, making the stock its 16th largest position. Arosa Capital Management LP’s holdings in Enphase Energy were worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its position in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Enphase Energy in the third quarter worth about $34,000. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy during the third quarter worth about $34,000. Finally, Quest Partners LLC boosted its position in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 1.4 %

NASDAQ ENPH opened at $71.35 on Monday. Enphase Energy, Inc. has a 12 month low of $58.33 and a 12 month high of $141.63. The stock has a market capitalization of $9.64 billion, a P/E ratio of 162.16, a PEG ratio of 21.09 and a beta of 1.77. The firm’s 50-day moving average is $86.46 and its two-hundred day moving average is $104.68. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on ENPH shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $76.00 price objective on shares of Enphase Energy in a report on Tuesday, November 19th. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Wednesday, October 23rd. Canaccord Genuity Group lowered Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Oppenheimer decreased their price objective on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Roth Mkm reduced their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $101.13.

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.