Enphase Energy (NASDAQ:ENPH) Hits New 52-Week Low – Here’s Why

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) hit a new 52-week low during trading on Friday . The company traded as low as $58.29 and last traded at $59.06, with a volume of 1491325 shares traded. The stock had previously closed at $61.19.

Wall Street Analyst Weigh In

A number of brokerages have commented on ENPH. JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Bank of America dropped their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Northland Securities dropped their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Morgan Stanley dropped their price objective on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Barclays dropped their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.42.

Enphase Energy Trading Down 6.3 %

The stock’s fifty day simple moving average is $65.95 and its 200-day simple moving average is $83.50. The firm has a market cap of $7.59 billion, a PE ratio of 77.47 and a beta of 1.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Enphase Energy during the fourth quarter worth $18,580,000. Fourth Dimension Wealth LLC purchased a new position in shares of Enphase Energy during the fourth quarter worth $103,000. Voloridge Investment Management LLC purchased a new position in shares of Enphase Energy during the fourth quarter worth $32,251,000. Worldquant Millennium Advisors LLC raised its holdings in shares of Enphase Energy by 531.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after purchasing an additional 678,163 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Enphase Energy during the fourth quarter worth $557,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.