B. Riley Wealth Management Inc. Grows Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

B. Riley Wealth Management Inc. increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,769 shares of the semiconductor company’s stock after acquiring an additional 206 shares during the period. B. Riley Wealth Management Inc.’s holdings in Enphase Energy were worth $508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENPH. Fifth Third Bancorp grew its position in Enphase Energy by 272.0% in the first quarter. Fifth Third Bancorp now owns 372 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 272 shares in the last quarter. Keybank National Association OH boosted its position in shares of Enphase Energy by 55.6% during the first quarter. Keybank National Association OH now owns 4,248 shares of the semiconductor company’s stock valued at $689,000 after buying an additional 1,518 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Enphase Energy by 20.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,811 shares of the semiconductor company’s stock valued at $2,726,000 after buying an additional 2,834 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Enphase Energy by 73.6% during the first quarter. Advisors Asset Management Inc. now owns 1,630 shares of the semiconductor company’s stock valued at $264,000 after buying an additional 691 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Enphase Energy by 71.1% during the first quarter. Oppenheimer & Co. Inc. now owns 8,125 shares of the semiconductor company’s stock valued at $1,318,000 after buying an additional 3,376 shares during the period. Institutional investors own 67.26% of the company’s stock.

In other news, COO Jeff Mcneil sold 7,529 shares of the business’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $183.16, for a total transaction of $1,379,011.64. Following the sale, the chief operating officer now directly owns 178,319 shares of the company’s stock, valued at $32,660,908.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Ranhoff sold 28,031 shares of the business’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $183.87, for a total transaction of $5,154,059.97. Following the sale, the executive vice president now directly owns 199,957 shares in the company, valued at $36,766,093.59. The disclosure for this sale can be found here. Insiders have sold 54,726 shares of company stock worth $9,787,267 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Shares of ENPH stock opened at $153.66 on Friday. The business’s fifty day simple moving average is $171.57 and its 200-day simple moving average is $159.33. The company has a market cap of $20.69 billion, a PE ratio of 120.05, a PEG ratio of 3.38 and a beta of 1.16. The company has a current ratio of 4.67, a quick ratio of 4.57 and a debt-to-equity ratio of 1.59. Enphase Energy, Inc. has a 12-month low of $69.55 and a 12-month high of $229.04.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 27th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. The business had revenue of $316.06 million for the quarter, compared to the consensus estimate of $311.23 million. Enphase Energy had a return on equity of 42.16% and a net margin of 17.28%. The business’s quarterly revenue was up 151.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.34 earnings per share for the current year.

Several brokerages have issued reports on ENPH. Seaport Res Ptn restated a “neutral” rating on shares of Enphase Energy in a research report on Thursday, July 15th. Citigroup assumed coverage on Enphase Energy in a research report on Friday, June 25th. They set a “buy” rating for the company. KeyCorp assumed coverage on Enphase Energy in a report on Tuesday. They issued an “overweight” rating and a $179.00 price target for the company. Piper Sandler boosted their price target on Enphase Energy from $195.00 to $202.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. Finally, Stephens assumed coverage on Enphase Energy in a report on Thursday, June 24th. They issued an “overweight” rating and a $215.00 price target for the company. Ten analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $184.79.

About Enphase Energy

Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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