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

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $33.01 and last traded at $35.21, with a volume of 7370368 shares traded. The stock had previously closed at $45.93.

Analysts Set New Price Targets

Several brokerages have issued reports on ENPH. Piper Sandler cut their price objective on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Truist Financial decreased their target price on Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. BNP Paribas lowered Enphase Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, May 13th. Barclays lowered Enphase Energy from an "overweight" rating to an "underweight" rating and dropped their price objective for the company from $51.00 to $40.00 in a research note on Tuesday, May 13th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a research report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and an average target price of $67.07.

Enphase Energy Stock Down 24.7%

The business's 50 day moving average price is $46.44 and its 200-day moving average price is $58.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a market cap of $4.54 billion, a P/E ratio of 46.07 and a beta of 1.69.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. The trade was a 0.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after buying an additional 44,782 shares during the period. Baillie Gifford & Co. increased its holdings in Enphase Energy by 32.0% during the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after buying an additional 2,680,567 shares during the last quarter. Invesco Ltd. increased its holdings in Enphase Energy by 15.5% during the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company's stock valued at $326,664,000 after buying an additional 706,656 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock worth $234,994,000 after purchasing an additional 47,593 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after purchasing an additional 484,497 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.

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