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

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price reached a new 52-week low 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 equities research analysts also recently issued research reports about the stock. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Wednesday, October 23rd. TD Cowen decreased their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Bank of America decreased their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Oppenheimer reduced their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group dropped their price target on shares of Enphase Energy from $95.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Four investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.76.

Hedge Funds Weigh In On Enphase Energy

Large investors have recently bought and sold shares of the stock. Avior Wealth Management LLC raised its stake in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares in the last quarter. UMB Bank n.a. raised its holdings in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after buying an additional 259 shares during the period. nVerses Capital LLC bought a new position in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC bought a new position in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Finally, Quarry LP bought a new position in shares of Enphase Energy in the third quarter valued at $37,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm’s 50 day moving average is $95.27 and its two-hundred day moving average is $107.77. The firm has a market capitalization of $8.15 billion, a P/E ratio of 135.27, a PEG ratio of 18.20 and a beta of 1.77.

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

Enphase Energy Company Profile

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.