Ancora Advisors LLC lessened its position in shares of Enphase Energy Inc (NASDAQ:ENPH) by 30.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 70,000 shares of the semiconductor company’s stock after selling 30,000 shares during the quarter. Ancora Advisors LLC’s holdings in Enphase Energy were worth $339,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Marathon Capital Management purchased a new stake in Enphase Energy in the second quarter valued at approximately $1,688,000. Schwab Charles Investment Management Inc. purchased a new stake in Enphase Energy in the second quarter valued at approximately $1,224,000. BlueMountain Capital Management LLC purchased a new stake in Enphase Energy in the second quarter valued at approximately $925,000. Engineers Gate Manager LP purchased a new stake in Enphase Energy in the second quarter valued at approximately $227,000. Finally, BDO Wealth Advisors LLC purchased a new stake in Enphase Energy in the second quarter valued at approximately $337,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:ENPH opened at $5.66 on Thursday. The firm has a market capitalization of $574.17 million, a price-to-earnings ratio of -10.48 and a beta of 0.55. The company has a debt-to-equity ratio of 21.18, a current ratio of 1.55 and a quick ratio of 1.42. Enphase Energy Inc has a 52 week low of $1.83 and a 52 week high of $7.60.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, November 6th. The semiconductor company reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $78.00 million during the quarter, compared to analyst estimates of $79.55 million. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. On average, sell-side analysts anticipate that Enphase Energy Inc will post -0.14 earnings per share for the current fiscal year.

ENPH has been the topic of a number of research analyst reports. TheStreet raised Enphase Energy from a “d+” rating to a “c-” rating in a research report on Wednesday, November 28th. B. Riley set a $8.00 target price on Enphase Energy and gave the company a “buy” rating in a research report on Wednesday, September 12th. ValuEngine lowered Enphase Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. HC Wainwright set a $9.00 price target on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, BidaskClub upgraded shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.21.

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 15,000 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was acquired at an average price of $5.69 per share, for a total transaction of $85,350.00. Following the completion of the purchase, the chief executive officer now directly owns 129,440 shares in the company, valued at approximately $736,513.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 13.52% of the company’s stock.

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About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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

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