Enphase Energy (NASDAQ:ENPH) Sets New 1-Year Low - What's Next?

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

Analyst Ratings Changes

A number of equities analysts have recently commented on ENPH shares. Canaccord Genuity Group reduced their price objective on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. BNP Paribas Exane cut shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target for the company. in a research note on Tuesday, May 13th. Barclays downgraded shares of Enphase Energy from an "overweight" rating to an "underweight" rating and cut their target price for the company from $51.00 to $40.00 in a research note on Tuesday, May 13th. Redburn Atlantic started coverage on Enphase Energy in a research note on Monday, March 3rd. They issued a "neutral" rating on the stock. Finally, Morgan Stanley lowered shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective on the stock. in a research report on Wednesday, April 23rd. Twelve 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's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $65.44.

Enphase Energy Stock Performance

The company has a fifty day moving average price of $45.44 and a two-hundred day moving average price of $57.95. The company has a market capitalization of $4.70 billion, a P/E ratio of 33.19 and a beta of 1.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the purchase, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Woodline Partners LP acquired a new position in Enphase Energy in the fourth quarter valued at approximately $557,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its stake in Enphase Energy by 72.7% during the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock worth $1,305,000 after acquiring an additional 8,000 shares in the last quarter. Norges Bank acquired a new stake in Enphase Energy in the fourth quarter worth $46,339,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enphase Energy in the fourth quarter valued at $5,324,000. Finally, Bouvel Investment Partners LLC bought a new position in shares of Enphase Energy during the 1st quarter worth about $847,000. 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.