Enphase Energy (NASDAQ:ENPH) Sets New 1-Year Low – Time to Sell?

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price reached 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. The stock had previously closed at $55.76.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. TD Cowen decreased their price target on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Truist Financial reiterated a “hold” rating and issued a $65.00 price target (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. BMO Capital Markets dropped their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup cut shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research note on Wednesday, March 26th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $89.79.

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 company’s 50 day moving average price is $61.83 and its 200-day moving average price is $73.15. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 66.92 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now 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. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently made changes to their positions in ENPH. Royal London Asset Management Ltd. grew its holdings in shares of Enphase Energy by 9.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 56,852 shares of the semiconductor company’s stock valued at $6,425,000 after acquiring an additional 4,789 shares in the last quarter. Quarry LP purchased a new stake in shares of Enphase Energy during the 3rd quarter worth about $37,000. Kovitz Investment Group Partners LLC raised its stake in shares of Enphase Energy by 13.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 17,280 shares of the semiconductor company’s stock worth $1,953,000 after purchasing an additional 2,045 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Enphase Energy by 59.5% in the 3rd quarter. National Bank of Canada FI now owns 67,720 shares of the semiconductor company’s stock valued at $7,654,000 after buying an additional 25,261 shares in the last quarter. Finally, Pier Capital LLC bought a new position in shares of Enphase Energy during the 3rd quarter valued at $424,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.