Here is What Hedge Funds Think About Enphase Energy Inc (ENPH)

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Consequently, some big names were leading the bulls’ herd. Granite Point Capital assembled the most valuable position in Enphase Energy Inc (NASDAQ:ENPH) which had $0.9 million invested in the company at the end of the quarter. Wojciech Uzdelewicz’s Espalier Global Management also made a $0.7 million investment in the stock during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Enphase Energy Inc (NASDAQ:ENPH). We will take a look at XOMA Corp (NASDAQ:XOMA), ProNAi Therapeutics Inc (NASDAQ:DNAI), CytRx Corporation (NASDAQ:CYTR), and VAALCO Energy, Inc. (NYSE:EGY). This group of stocks’ market valuations are similar to ENPH’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
XOMA 9 2293 -1
DNAI 8 9093 -1
CYTR 7 5519 1
EGY 9 4988 4

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $5 million. That figure was $10 million in ENPH’s case. XOMA Corp (NASDAQ:XOMA) is the most popular stock in this table. On the other hand CytRx Corporation (NASDAQ:CYTR) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Enphase Energy Inc (NASDAQ:ENPH) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None


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