Credit Capital Investments LLC Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Credit Capital Investments LLC acquired a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,400 shares of the semiconductor company’s stock, valued at approximately $384,000. Enphase Energy accounts for about 0.5% of Credit Capital Investments LLC’s portfolio, making the stock its 20th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in ENPH. UMB Bank n.a. lifted its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC purchased a new stake in Enphase Energy in the third quarter worth about $34,000. Quest Partners LLC lifted its position in shares of Enphase Energy by 11,525.0% during 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. Blue Trust Inc. lifted its position in shares of Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 228 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Enphase Energy by 1,727.6% during the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 501 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ENPH shares. The Goldman Sachs Group decreased their price target on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Craig Hallum decreased their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Bank of America decreased their price objective on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Finally, Raymond James decreased their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” 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 issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $103.39.

Enphase Energy Price Performance

Shares of ENPH stock traded up $0.37 during mid-day trading on Wednesday, reaching $60.46. The stock had a trading volume of 1,497,584 shares, compared to its average volume of 3,977,133. The business has a 50-day simple moving average of $98.28 and a 200 day simple moving average of $108.79. The company has a market cap of $8.17 billion, a P/E ratio of 136.57, a price-to-earnings-growth ratio of 7.15 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a 12-month low of $59.26 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the previous year, the business posted $0.84 EPS. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current 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.