Enphase Energy Inc (ENPH) Stake Held by Third Point LLC
Third Point LLC
recently disclosed that they own a 8.1% stake in Enphase Energy Inc (NASDAQ:ENPH) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Monday, March 20th. The investor owns 6,672,671 shares of the stock valued at approximately $8,941,379. The reporting parties listed on the disclosure included Third Point LLC, Daniel S Loeb, Third Point Offshore Master Fund, LP and Third Point Advisors II LLC. The disclosure is available through Edgar at this hyperlink.
Third Point LLC
provided the following explanation of their ownership:
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Several other hedge funds have also recently added to or reduced their stakes in ENPH. Ancora Advisors LLC boosted its stake in Enphase Energy by 30.0% in the fourth quarter. Ancora Advisors LLC now owns 130,000 shares of the company’s stock valued at $131,000 after buying an additional 30,000 shares during the period. Divisar Capital Management LLC purchased a new stake in Enphase Energy during the fourth quarter valued at $914,000. A.R.T. Advisors LLC boosted its stake in Enphase Energy by 547.5% in the fourth quarter. A.R.T. Advisors LLC now owns 220,154 shares of the company’s stock valued at $222,000 after buying an additional 186,154 shares during the period. Renaissance Technologies LLC purchased a new stake in Enphase Energy during the fourth quarter valued at $412,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Enphase Energy during the third quarter valued at $439,000. Institutional investors own 23.84% of the company’s stock.
Enphase Energy Inc (NASDAQ:ENPH) traded down 4.29% during trading on Monday, hitting $1.34. The company had a trading volume of 543,894 shares. The stock’s market capitalization is $82.92 million. The company’s 50 day moving average price is $1.50 and its 200-day moving average price is $1.35. Enphase Energy Inc has a 1-year low of $0.95 and a 1-year high of $2.82.
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Several research firms have recently weighed in on ENPH. Roth Capital set a $2.00 price target on Enphase Energy and gave the stock a “hold” rating in a report on Monday, February 27th. Craig Hallum began coverage on Enphase Energy in a report on Monday, December 5th. They set a “buy” rating and a $4.00 price target on the stock. Finally, Zacks Investment Research cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Enphase Energy has a consensus rating of “Buy” and a consensus target price of $2.53.
Enphase Energy Company Profile
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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