Enphase Energy (NASDAQ:ENPH) Reaches New 52-Week Low - Here's Why

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $50.89 and last traded at $51.13, with a volume of 2825069 shares trading hands. The stock had previously closed at $55.76.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ENPH. Truist Financial reissued a "hold" rating and set a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Oppenheimer boosted their target price on Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Jefferies Financial Group cut their price target on Enphase Energy from $54.00 to $44.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Craig Hallum lowered their price objective on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Finally, TD Cowen cut their price objective on shares of Enphase Energy from $94.00 to $78.00 and set a "buy" rating for the company in a research report on Friday. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $89.06.

Enphase Energy Stock Performance

The company has a market capitalization of $6.87 billion, a PE ratio of 70.12 and a beta of 1.94. The stock's fifty day simple moving average is $60.46 and its 200-day simple moving average is $71.07. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, equities analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in the business. MML Investors Services LLC raised its position in Enphase Energy by 24.1% in the third quarter. MML Investors Services LLC now owns 23,229 shares of the semiconductor company's stock valued at $2,625,000 after purchasing an additional 4,508 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Enphase Energy by 4.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 61,366 shares of the semiconductor company's stock valued at $6,936,000 after buying an additional 2,438 shares during the period. M&T Bank Corp lifted its position in Enphase Energy by 4.0% during the 3rd quarter. M&T Bank Corp now owns 18,907 shares of the semiconductor company's stock worth $2,137,000 after acquiring an additional 726 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock worth $381,030,000 after acquiring an additional 20,579 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new stake in Enphase Energy in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 72.12% of the company's stock.

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.