Enphase Energy Inc. (NASDAQ:ENPH) finished Thursday with a subtraction of -$2.0 to close at $136.46, a downside of -1.44 percent. An average of 3,771,020 shares of common stock have been traded in the last five days. There was a fall of -$3.90 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 4,966,385 shares traded, while the 50-day average volume stands at 4,035,080.
ENPH stock has decreased by -25.35% in the last month. The company shares reached their 1-month lowest point of $132.48 on 08/07/23. With the stock rallying to its 52-week high on 01/03/23, shares of the company touched a low of $132.48 and a high of $339.92 in 52 weeks. It has reached a new high 1 time so far this year and lost -48.50% or -$128.50 in price. In spite of this, the price is down -59.86% from the 52-week high.
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Insider Transactions
ENPH stock investors should be aware that Enphase Energy Inc. (ENPH) stock had its last reported insider trading activity 73 days ago on May 30. In this transaction, the insider spent $313,609. Director, MORA RICHARD, disposed of 1,500 shares at a price of $165.92 on May 26. The insider now owns more than $248,880 worth of shares. Prior to that, Director MORA RICHARD went on to Sale 4,500 shares at $214.62 each on Mar 03. An amount of $965,775 was transacted.
Valuation Metrics
Enphase Energy Inc. (ENPH) has a trailing price-to-earnings (P/E) ratio of 34.69. The stock’s beta is 1.50. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.67, the price-to-book (PB) ratio at 19.17, and the price-to-cash flow ratio at 21.56.
Financial Health
The quick ratio of Enphase Energy Inc. for the three months ended June 29 was 3.20, and the current ratio was 3.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.23 and a total debt to equity ratio of 1.33 for the quarter ending June 29. Enphase Energy Inc.’s EBITDA margin for the year ending June 29 is 21.67%, while its operating margin for the same period stands at 22.50%. Its gross profit as reported stood at $448.26 million compared to revenue of $2.33 billion.
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 18.10%.
Earnings Surprise
For the three-month period that ended June 29, Enphase Energy Inc. had $1.52 billion in cash and short-term investments compared to $1.2 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $157.19 million in the quarter, while revenues of $146.87 million were grew 51.03%. The analyst consensus anticipated Enphase Energy Inc.’s latest quarter earnings to come in at $1.25 per share, but it turned out to be $1.47, a 17.60% surprise. For the quarter, EBITDA amounted to $177.99 million. Shareholders own equity worth $136.35 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 10 August was 23.43%, suggesting the stock is oversold, with historical volatility in this time frame at 34.80%.
As of today, ENPH’s price is $137.23 -2.78% or -$3.90 from its 5-day moving average. ENPH is currently trading -25.28% lower than its 20-day SMA and -25.69% lower than its 100-day SMA. However, the stock’s current price level is -21.63% below the SMA50 and -45.85% below the SMA200.
The stochastic %K and %D were 8.87% and 7.14%, respectively, and the average true range (ATR) was 6.85. With the 14-day stochastic at 8.00% and the average true range at 7.20, the RSI (14) stands at 28.74%. The stock has reached -4.14 on the 9-day MACD Oscillator while the 14-day reading was at -14.61.
Analyst Ratings
Wells Fargo downgraded Enphase Energy Inc. (NASDAQ: ENPH) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Overweight. 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 13 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 23 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 $267.00, with a median target of $202.50. Taking a look at these predictions, the average price target given by analysts for Enphase Energy Inc. (ENPH) stock is $202.67.
