Enphase Energy (NASDAQ:ENPH) Hits New 1-Year Low - Time to Sell?

Key Points

• Enphase Energy reached a new 52-week low at $30.97, with analysts advising potential sell strategies due to multiple downgrades from major firms like Citigroup and Deutsche Bank.
• Analyst ratings currently include thirteen "sell" ratings, thirteen "hold" ratings, and eleven "buy" ratings, with an average consensus price target of $55.22.
• For the last quarter, Enphase reported an earnings per share (EPS) of $0.69, exceeding analysts’ expectations, contributing to a revenue growth of 19.7% year-over-year.

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $30.97 and last traded at $31.02, with a volume of 958706 shares trading hands. The stock had previously closed at $31.91.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup reduced their price objective on Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft cut their price target on Enphase Energy from $49.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, July 24th. Susquehanna cut their target price on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating for the company in a research note on Monday, July 21st. Guggenheim reaffirmed a "sell" rating and set a $33.00 price target on shares of Enphase Energy in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the stock a "sector perform" rating in a research report on Wednesday, June 18th. Thirteen research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $55.22.

Enphase Energy Stock Performance

The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 23.75 and a beta of 1.59. The stock's 50-day simple moving average is $39.48 and its 200-day simple moving average is $50.46.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The firm had revenue of $363.15 million during the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The business's revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. Analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Large investors have recently added to or reduced their stakes in the company. CX Institutional acquired a new position in Enphase Energy in the 1st quarter worth approximately $29,000. First Horizon Advisors Inc. raised its stake in shares of Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 258 shares during the last quarter. SVB Wealth LLC acquired a new stake in Enphase Energy in the first quarter valued at $38,000. Brooklyn Investment Group raised its holdings in shares of Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 368 shares during the period. Finally, GeoWealth Management LLC grew its position in shares of Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.