Enphase Energy Inc. (NASDAQ:ENPH) saw a downside of -1.41% to close Tuesday at $128.32 after subtracting -$1.84 on the day. The 5-day average trading volume is 2,678,480 shares of the company’s common stock. It has gained $136.95 in the past week and touched a new high 1 time within the past 5 days. An average of 4,455,040 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,008,992.
ENPH’s 1-month performance is -27.83% or -$49.16 on its low of $127.34 reached on 08/22/23. The company’s shares have touched a 52-week low of $128.56 and high of $339.92, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, ENPH has lost -51.57% or -$136.64 and has reached a new high 1 time. However, the current price is down -62.25% from the 52-week high price.
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Insider Transactions
ENPH stock investors last saw insider trading activity on May 30.RANHOFF DAVID A (EVP & Chief Commercial Officer) most recently sold 1,791 shares at $175.10 per share on May 30. This transaction cost the insider $313,609. Director, MORA RICHARD, sold 1,500 shares at a price of $165.92 on May 26. Then, on Mar 03, Director MORA RICHARD sold 4,500 shares at a price of $214.62 per share. This transaction amounted to $965,775.
Valuation Metrics
ENPH stock has a beta of 1.52. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.31 while the price-to-book (PB) in the most recent quarter is 18.02, with the price to cash flow ratio at 20.39.
Enphase Energy Inc.’s quick ratio for the period ended June 29 was 3.20, with the current ratio over the same period at 3.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.23, while the total debt to equity was 1.33.. In terms of profitability, the gross margin trailing 12 months is 43.90%. The trailing 12-month EBITDA margin is 21.67% while for the period ending June 29, Enphase Energy Inc.’s operating margin was 22.50%. The firm’s gross profit as reported stood at $448.26 million against revenue of $2.33 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 51.03% to $157.19 million, while revenue of $146.87 million was 6.57% off the previous quarter. Analysts expected ENPH to announce $1.25 per share in earnings in its latest quarter, but it posted $1.47, representing a 17.60% surprise. EBITDA for the quarter stood at more than $177.99 million. ENPH stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.49 billion, with total debt at $1.32 billion. Shareholders hold equity totaling $136.35 million.
Let’s look briefly at Enphase Energy Inc. (ENPH) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 20.99% to suggest the stock is trending oversold, with historical volatility in this time period at 20.63%.
The stock’s 5-day moving average is $130.63, reflecting a -4.64% or -$6.24 change from its current price. ENPH is currently trading -28.50% above its 20-day SMA, -37.08% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -26.50% and SMA200 by-55.68%.
Stochastic %K and %D was 7.43% and 6.52% and the average true range (ATR) pointed at 5.02. The RSI (14) points at 26.23%, while the 14-day stochastic is at 5.74% with the period’s ATR at 5.73. The stock’s 9-day MACD Oscillator is pointing at -3.50 and -5.25 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Enphase Energy Inc. (NASDAQ: ENPH), Wells Fargo downgraded it to an Equal weight rating. They previously had an Overweight rating on the stock. Analysts offering their rating for ENPH stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ENPH as a “sell,”, while 12 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 3 rates the stock as overweight while 23 have offered a “buy” rating.
What is ENPH’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $135.00 and a high of $262.00, with their median price target at $200.00. Looking at these predictions, the average price target given by analysts is for Enphase Energy Inc. (ENPH) stock is $198.17.
