Enphase Energy (NASDAQ:ENPH) Reaches New 12-Month Low After Analyst Downgrade

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price hit a new 52-week low during 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. The stock had previously closed at $59.52.

A number of other research firms have also recently commented on ENPH. Roth Mkm decreased their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Northland Securities decreased their price objective on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group lowered Enphase Energy from a “hold” rating to an “underperform” rating and reduced their target price for the company from $93.00 to $61.00 in a research report on Thursday, November 7th. Oppenheimer decreased their price target on 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, JPMorgan Chase & Co. dropped their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.76.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter valued at about $424,130,000. Baillie Gifford & Co. raised its position in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the period. Electron Capital Partners LLC grew its holdings in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares during the period. Anomaly Capital Management LP acquired a new stake in shares of Enphase Energy during the 2nd quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Enphase Energy in the 1st quarter valued at about $59,128,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

The company has a market cap of $8.43 billion, a price-to-earnings ratio of 141.82, a PEG ratio of 18.20 and a beta of 1.77. The stock’s 50-day simple moving average is $94.46 and its 200 day simple moving average is $107.46. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 0.91 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.