Peapack Gladstone Financial Corp Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Peapack Gladstone Financial Corp purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,583 shares of the semiconductor company’s stock, valued at approximately $292,000.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Enphase Energy during the 3rd quarter worth $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Quarry LP acquired a new position in Enphase Energy in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Down 3.0 %

Enphase Energy stock opened at $71.62 on Tuesday. The stock has a 50-day simple moving average of $78.05 and a 200-day simple moving average of $100.91. The company has a market capitalization of $9.68 billion, a P/E ratio of 162.77, a PEG ratio of 22.03 and a beta of 1.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63.

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 the consensus estimate of $0.77 by ($0.12). The firm 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%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. Equities research analysts expect that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Susquehanna decreased their price target on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. TD Cowen dropped their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley decreased their target price on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Finally, William Blair started coverage on Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.13.

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.