Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $50.89 and last traded at $51.13, with a volume of 2825069 shares changing hands. The stock had previously closed at $55.76.
Analyst Upgrades and Downgrades
ENPH has been the subject of several research reports. BMO Capital Markets reduced their target price on Enphase Energy from $69.00 to $66.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Redburn Atlantic began coverage on Enphase Energy in a research note on Monday, March 3rd. They issued a "neutral" rating for the company. Craig Hallum decreased their price objective on Enphase Energy from $123.00 to $101.00 and set a "buy" rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, Glj Research restated a "sell" rating and set a $50.69 price target on shares of Enphase Energy in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Enphase Energy presently has an average rating of "Hold" and an average price target of $89.06.
Read Our Latest Analysis on Enphase Energy
Enphase Energy Stock Up 4.7 %
The firm has a market capitalization of $6.87 billion, a PE ratio of 70.12 and a beta of 1.94. The stock has a 50-day simple moving average of $60.46 and a 200-day simple moving average of $71.07. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.
Insider Activity at Enphase Energy
In other news, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was 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 represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Enphase Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Enphase Energy by 0.3% during 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 in the last quarter. Baillie Gifford & Co. grew its position in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Invesco Ltd. increased its stake in Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after acquiring an additional 1,378,978 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 acquiring an additional 47,593 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock valued at $155,360,000 after acquiring an additional 1,258,778 shares in the last quarter. Institutional investors own 72.12% of the company's stock.
About Enphase Energy
(
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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