Among the solar stocks that had previously been on a nice run through early March, Enphase Energy (NASDAQ:ENPH) has continued to remain on the radar of many growth investors. Unfortunately, though, ENPH stock is moving in reverse today, losing about 9% in early afternoon trading.
This company’s focus on customer satisfaction and innovation within the solar energy space is one of the key reasons why analysts continue to like ENPH stock. As noted in a recent piece by Louis Navellier, shares of Enphase continue to garner bullish support from analysts. Last month, Janney Montgomery Scott upgraded the stock to a “buy” rating.
Still, although solar companies have also seen support from Wells Fargo analysts recently, that has done little to assuage concerns around slower economic growth. A banking crisis — which resulted in three banks collapsing last week and another requiring a liquidity injection this week — has provided significant market uncertainty for all stocks. Especially for those in higher-growth areas of the economy that may require additional financing down the road.
That said, let’s dive into which institutional investors are backing this solar play.
5 Top Investors in ENPH Stock
According to Yahoo Finance, these are the top five institutional investors in Enphase Energy and ENPH stock:
- Vanguard Group owns 15.68 million shares, worth 11.49% of the company.
- BlackRock (NYSE:BLK) 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, worth 2.7% of the company.
- Geode Capital Management owns 2.84 million shares, worth 2.09%.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.