Enphase Energy (NASDAQ:ENPH) Hits New 1-Year Low After Analyst Downgrade

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) reached a new 52-week low during trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $44.00 to $37.00. Jefferies Financial Group currently has an underperform rating on the stock. Enphase Energy traded as low as $45.21 and last traded at $49.50, with a volume of 6881836 shares trading hands. The stock had previously closed at $53.43.

ENPH has been the topic of several other research reports. BMO Capital Markets reduced their price target on shares of Enphase Energy from $59.00 to $46.00 and set a “market perform” rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their price target on Enphase Energy from $90.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday. Glj Research restated a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Barclays decreased their target price on Enphase Energy from $86.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $54.00 target price (down previously from $59.00) on shares of Enphase Energy in a report on Wednesday. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.95.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Wilmington Savings Fund Society FSB purchased a new stake in shares of Enphase Energy in the third quarter worth approximately $239,000. Tidal Investments LLC boosted its stake in shares of Enphase Energy by 121.4% in the 3rd quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company’s stock worth $13,893,000 after buying an additional 67,411 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new stake in shares of Enphase Energy during the 3rd quarter valued at $292,000. GAMMA Investing LLC raised its position in Enphase Energy by 131.9% in the fourth quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company’s stock worth $339,000 after acquiring an additional 2,810 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in Enphase Energy in the fourth quarter valued at approximately $470,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

The company has a market cap of $5.99 billion, a P/E ratio of 61.06 and a beta of 1.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a 50 day moving average price of $58.58 and a two-hundred day moving average price of $68.10.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal 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.