How Enphase Energy Inc. (ENPH) Works From A Technical Perspective

Enphase Energy Inc. (NASDAQ:ENPH) finished Wednesday with an addition of $3.37 to close at $173.21, an upside of 1.98 percent. An average of 1,975,160 shares of common stock have been traded in the last five days. There was a gain of $19.63 in the past week. The last 20 days have seen an average of 1,923,570 shares traded, while the 50-day average volume stands at 1,738,922.

ENPH stock has increased by 9.66% in the last month. The company shares reached their 1-month lowest point of $143.45 on 10/06/21. With the stock rallying to its 52-week high on 02/10/21, shares of the company touched a low of $92.14 and a high of $229.04 in 52 weeks. In spite of this, the price is down -24.38% from the 52-week high.


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Insider Transactions

14 days have passed since Enphase Energy Inc. (ENPH) last reported insider trading activity. Kothandaraman Badrinarayanan, who is President & CEO, most recently acquired $30,000 shares at $150.49 per share on Sep 30. In this transaction, the insider spent $4,514,573. EVP & Chief Operating Officer, McNeil Jeff, disposed of 18,334 shares at a price of $164.04 on Aug 17. The insider now owns more than $3,007,566 worth of shares. Prior to that, EVP & Chief Operating Officer McNeil Jeff went on to Sale 19,166 shares at $169.79 each on Aug 16. An amount of $3,254,140 was transacted.

Valuation Metrics

Enphase Energy Inc. (ENPH) has a trailing price-to-earnings (P/E) ratio of 136.60, which compares with the 31.10 for the broader industry and 37.24 for the sector. In the last five years, Enphase Energy Inc.’s PE ratio has ranged between 435.38 and 16.98. The stock’s beta is 1.11. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 22.38, the price-to-book (PB) ratio at 40.00, and the price-to-cash flow ratio at 93.47.

The quick ratio of Enphase Energy Inc. for the three months ended June 29 was 4.60, and the current ratio was 4.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.59 and a total debt to equity ratio of 1.74 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 44.10% against a 5-year average of 29.5%. Enphase Energy Inc.’s EBITDA margin for the year ending June 29 is 26.41%, while its operating margin for the same period stands at 18.40%. Its gross profit as reported stood at $186.44 million compared to revenue of $774.42 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Enphase Energy Inc.’s return on assets was 11.10%, compared to -5.6% over the last five years. For the broader industry, ROE averaged -0.25 over the past year.

Earnings Surprise

The analyst consensus anticipated Enphase Energy Inc.’s latest quarter earnings to come in at $0.43 per share, but it turned out to be $0.53, a 23.30% surprise. For the quarter, EBITDA amounted to $67.0 million. Shareholders own equity worth $134.62 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Enphase Energy Inc. (ENPH) price momentum. RSI 9-day as of the close on 13 October was 69.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 55.21%.

As of today, ENPH’s price is $163.18 +12.78% or $19.63 from its 5-day moving average. ENPH is currently trading +11.37% higher than its 20-day SMA and +21.74% higher than its 100-day SMA. However, the stock’s current price level is -10.08% below the SMA50 and -1.30% below the SMA200.

The stochastic %K and %D were 88.24% and 78.15%, respectively, and the average true range (ATR) was 7.79. With the 14-day stochastic at 91.68% and the average true range at 7.52, the RSI (14) stands at 62.38%. The stock has reached 10.63 on the 9-day MACD Oscillator while the 14-day reading was at 12.74.

Analyst Ratings

BMO Capital Markets launched coverage on Enphase Energy Inc. (NASDAQ: ENPH) in its analyst report released on October 01, 2021. The firm assigned the stock a an Outperform rating.The consensus rating for Enphase Energy Inc. (ENPH) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ENPH, while 9 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 18 others rate it as a “buy”.

What is ENPH’s price target for the next 12 months?

Analysts predict a range of price targets between $135.00 and $238.00, with a median target of $200.00. Taking a look at these predictions, the average price target given by analysts for Enphase Energy Inc. (ENPH) stock is $199.29.

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