5 Investors Are Betting Big on Enphase (ENPH) Stock
Among solar stocks that had previously enjoyed a strong run through early March, Enphase Energy (NASDAQ:ENPH) remained on the radar of many growth investors. Unfortunately, however, ENPH stock is moving in the opposite direction today, losing around 9% in the early afternoon.
This company’s focus on customer satisfaction and innovation in solar power is one of the main reasons analysts continue to like ENPH stocks. As noted in a recent article by Louis Navellier, Enphase shares continue to garner bullish support from analysts. Last month Janney Montgomery Scott upgraded the stock to buy.
Still, while solar companies have also had support from Wells Fargo analysts recently, that has done little to quell concerns about slowing economic growth. A banking crisis – which led to the collapse of three banks last week and another requiring a cash injection this week – has created significant market uncertainty for all stocks. Especially for those in higher growth sectors of the economy that may require additional funding down the road.
That said, let’s take a look at which institutional investors are backing this solar bet.
Top 5 ENPH Stock Investors
According to Yahoo Finance, here are the top five institutional investors in Enphase Energy and ENPH stocks:
- vanguard group owns 15.68 million shares, or 11.49% of the company.
- black rock (NYSE:BLACK) owns 14.13 million shares, worth 10.35%.
- State Street (NYSE:STT) owns 5.17 million shares, worth 3.79%.
- FMR, LLC owns 3.67 million shares, or 2.7% of the company.
- Geode Capital Management owns 2.84 million shares, worth 2.09%.
As of the date of publication, Chris MacDonald did not hold (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.