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

by · The Cerbat Gem

Enphase Energy, Inc. (NASDAQ:ENPH – Get Free Report)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $72.60 and last traded at $72.67, with a volume of 2156919 shares. The stock had previously closed at $89.94.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several analyst reports. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Wednesday, October 23rd. Roth Mkm reduced their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their target price on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $95.00 price target (down from $140.00) on shares of Enphase Energy in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $111.26.

Get Our Latest Analysis on Enphase Energy

Enphase Energy Stock Down 16.8 %

The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 166.00, a PEG ratio of 9.38 and a beta of 1.77. The firm has a 50-day moving average of $103.53 and a 200 day moving average of $110.29. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period in the prior year, the business posted $0.84 earnings per share. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of the business. Manchester Capital Management LLC raised its position in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC raised its holdings in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. UMB Bank n.a. lifted its position in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy during the third quarter worth approximately $34,000. Finally, Quest Partners LLC boosted its holdings in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

(Get Free Report)

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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