Enphase Energy (NASDAQ:ENPH) Hits New 52-Week Low After Analyst Downgrade

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) reached a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $93.00 to $74.00. Morgan Stanley currently has an equal weight rating on the stock. Enphase Energy traded as low as $58.33 and last traded at $59.00, with a volume of 571151 shares traded. The stock had previously closed at $59.52.

Other analysts also recently issued research reports about the stock. Susquehanna cut their price objective on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. BMO Capital Markets cut their price objective on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday, October 23rd. Craig Hallum cut their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Roth Mkm cut their price target on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $102.76.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ENPH. Seven Eight Capital LP raised its holdings in Enphase Energy by 61.2% during the first quarter. Seven Eight Capital LP now owns 14,971 shares of the semiconductor company’s stock worth $1,811,000 after purchasing an additional 5,681 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Enphase Energy in the first quarter valued at about $12,624,000. Bessemer Group Inc. increased its holdings in Enphase Energy by 198.3% in the first quarter. Bessemer Group Inc. now owns 1,897 shares of the semiconductor company’s stock valued at $229,000 after buying an additional 1,261 shares in the last quarter. Saturna Capital Corp increased its holdings in Enphase Energy by 27.7% in the first quarter. Saturna Capital Corp now owns 4,828 shares of the semiconductor company’s stock valued at $584,000 after buying an additional 1,047 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Enphase Energy by 52.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 287,784 shares of the semiconductor company’s stock valued at $34,816,000 after buying an additional 98,465 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.15 billion, a PE ratio of 135.27, a PEG ratio of 18.20 and a beta of 1.77. The stock’s fifty day simple moving average is $95.27 and its 200-day simple moving average is $107.77.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. On average, research analysts predict that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.