Enphase Energy (NASDAQ:ENPH) Hits New 12-Month Low Following Analyst Downgrade

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s share price reached a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $93.00 to $74.00. Morgan Stanley currently has an equal weight rating on the stock. Enphase Energy traded as low as $58.33 and last traded at $59.00, with a volume of 571151 shares traded. The stock had previously closed at $59.52.

A number of other equities research analysts have also issued reports on ENPH. Royal Bank of Canada cut their price target on shares of Enphase Energy from $100.00 to $85.00 and set a "sector perform" rating on the stock in a report on Wednesday, October 23rd. Barclays cut their target price on Enphase Energy from $129.00 to $114.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Guggenheim lowered Enphase Energy from a "neutral" rating to a "sell" rating and set a $73.00 price objective on the stock. in a research report on Wednesday, October 23rd. BNP Paribas downgraded Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 target price for the company. in a report on Friday, November 8th. Finally, The Goldman Sachs Group cut their price target on shares of Enphase Energy from $170.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given 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 $102.76.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Harbor Capital Advisors Inc. purchased a new stake in Enphase Energy during the 3rd quarter worth approximately $1,273,000. Swedbank AB lifted its stake in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock valued at $391,442,000 after purchasing an additional 11,890 shares during the period. Impax Asset Management Group plc increased its stake in shares of Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company's stock valued at $25,555,000 after purchasing an additional 31,008 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock worth $50,737,000 after buying an additional 438,424 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Enphase Energy during the third quarter valued at $6,387,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Performance

The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average price of $94.46 and a two-hundred day moving average price of $107.46. The firm has a market cap of $8.43 billion, a PE ratio of 141.82, a P/E/G ratio of 18.20 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued 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 return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was down 30.9% on a year-over-year basis. Research analysts forecast that Enphase Energy, Inc. will post 0.91 EPS for the current fiscal year.

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.