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

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $37.59 and last traded at $38.01, with a volume of 30760753 shares traded. The stock had previously closed at $47.29.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENPH shares. DZ Bank downgraded shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. Susquehanna decreased their price objective on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group cut their price objective on Enphase Energy from $90.00 to $77.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Glj Research cut their target price on Enphase Energy from $50.69 to $31.11 and set a "sell" rating for the company in a research note on Friday, April 25th. Finally, Canaccord Genuity Group lowered 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 report on Thursday, April 24th. Eleven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.87.

Enphase Energy Price Performance

The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 53.89 and a beta of 1.80. The company has a 50-day moving average of $50.98 and a 200-day moving average of $60.79.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 78,524 shares of the company's stock, 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. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ENPH. Vanguard Group Inc. grew its position in Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after purchasing an additional 44,782 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after purchasing an additional 2,680,567 shares in the last quarter. Invesco Ltd. grew 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 worth $326,664,000 after buying an additional 706,656 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Enphase Energy by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock worth $234,994,000 after buying an additional 47,593 shares during the last quarter. Finally, Northern Trust Corp raised its position in 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 acquiring an additional 484,497 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.