Enphase Energy (NASDAQ:ENPH) Reaches New 1-Year Low on Analyst Downgrade

Enphase Energy, Inc. (NASDAQ:ENPH) shares 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. The stock had previously closed at $59.52.

A number of other research analysts have also recently issued reports on the company. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler dropped their price target on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Raymond James reduced their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $102.76.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. boosted its position in Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after buying an additional 58,040 shares during the period. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter valued at approximately $424,130,000. Geode Capital Management LLC grew its stake in Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Electron Capital Partners LLC increased its holdings in 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. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 4.8 %

The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a fifty day simple moving average of $94.46 and a two-hundred day simple moving average of $107.46. The firm has a market capitalization of $8.43 billion, a PE ratio of 141.82, 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during 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 firm’s revenue was down 30.9% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. Analysts forecast that Enphase Energy, Inc. will post 0.91 EPS 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.