Truist slashes price target on Enphase Energy Inc. [ENPH] – find out why.

Enphase Energy Inc. [NASDAQ: ENPH] price plunged by -7.46 percent to reach at -$13.5. The company report on February 25, 2021 that Enphase Energy Announces Upsizing and Pricing of $1.15 Billion Green Convertible Senior Notes Offering.

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Enphase Energy, Inc. (Nasdaq: ENPH) announced the pricing of $575 million aggregate principal amount of green 0.0% Convertible Senior Notes due 2026 (the “2026 notes”) and $575 million aggregate principal amount of green 0.0% Convertible Senior Notes due 2028 (the “2028 notes” and together with the 2026 notes, the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering was upsized from the previously announced offering of $500 million aggregate principal amount of 2026 notes and $500 million aggregate principal amount of 2028 notes. Enphase also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $57.5 million aggregate principal amount of 2026 notes and an additional $57.5 million aggregate principal amount of 2028 notes to cover over-allotments, if any. The sale of the notes to the initial purchasers is expected to settle on March 1, 2021, subject to customary closing conditions, and Enphase expects to receive approximately $1.132 billion in net proceeds (or approximately $1.245 billion if the initial purchasers exercise their over-allotment option in full in respect of both series of notes), after deducting the initial purchasers’ discount and estimated offering expenses payable by Enphase.

The Notes:.

A sum of 5917103 shares traded at recent session while its average daily volume was at 3.76M shares. Enphase Energy Inc. shares reached a high of $181.00 and dropped to a low of $166.0951 until finishing in the latest session at $167.37.

The one-year ENPH stock forecast points to a potential upside of 22.08. The average equity rating for ENPH stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Enphase Energy Inc. [ENPH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENPH shares is $214.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENPH stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Enphase Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 12, 2021. The new note on the price target was released on January 08, 2021, representing the official price target for Enphase Energy Inc. stock. Previously, the target price had yet another raise to $195, while Susquehanna analysts kept a Neutral rating on ENPH stock. On January 05, 2021, analysts increased their price target for ENPH shares from 127 to 232.

The Average True Range (ATR) for Enphase Energy Inc. is set at 15.60, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 26.58. The Price to Book ratio for the last quarter was 43.93, with the Price to Cash per share for the same quarter was set at 5.52. Price to Free Cash Flow for ENPH in the course of the last twelve months was 105.17 with Quick ratio for the last quarter at 1.70.

ENPH Stock Performance Analysis:

Enphase Energy Inc. [ENPH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.45. With this latest performance, ENPH shares dropped by -10.66% in over the last four-week period, additionally plugging by 120.43% over the last 6 months – not to mention a rise of 222.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENPH stock in for the last two-week period is set at 40.78, with the RSI for the last a single of trading hit 36.90, and the three-weeks RSI is set at 44.30 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 187.41, while it was recorded at 175.35 for the last single week of trading, and 107.16 for the last 200 days.

Insight into Enphase Energy Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Enphase Energy Inc. [ENPH] shares currently have an operating margin of +24.07 and a Gross Margin at +44.39. Enphase Energy Inc.’s Net Margin is presently recorded at +17.30.

Return on Total Capital for ENPH is now 30.44, given the latest momentum, and Return on Invested Capital for the company is 30.16. Return on Equity for this stock inclined to 35.44, with Return on Assets sitting at 14.01. When it comes to the capital structure of this company, Enphase Energy Inc. [ENPH] has a Total Debt to Total Equity ratio set at 72.44. Additionally, ENPH Total Debt to Total Capital is recorded at 42.01, with Total Debt to Total Assets ending up at 29.22. Long-Term Debt to Equity for the company is recorded at 4.15, with the Long-Term Debt to Total Capital now at 2.41.

Reflecting on the efficiency of the workforce at the company, Enphase Energy Inc. [ENPH] managed to generate an average of $157,641 per employee. Receivables Turnover for the company is 4.30 with a Total Asset Turnover recorded at a value of 0.81.Enphase Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

ENPH Stock EPS

With the latest financial reports released by the company, Enphase Energy Inc. posted 0.38/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENPH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Enphase Energy Inc. go to 37.70%.

Enphase Energy Inc. [ENPH] Insider Position Details

There are presently around $15,593 million, or 75.10% of ENPH stock, in the hands of institutional investors. The top three institutional holders of ENPH stocks are: BLACKROCK INC. with ownership of 15,010,272, which is approximately 15.166% of the company’s market cap and around 1.80% of the total institutional ownership; VANGUARD GROUP INC, holding 11,092,029 shares of the stock with an approximate value of $1.86 billion in ENPH stocks shares; and JPMORGAN CHASE & CO, currently with $1.17 billion in ENPH stock with ownership of nearly 14.635% of the company’s market capitalization.

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Positions in Enphase Energy Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 365 institutional holders increased their position in Enphase Energy Inc. [NASDAQ:ENPH] by around 16,042,571 shares. Additionally, 197 investors decreased positions by around 16,452,683 shares, while 32 investors held positions by with 60,672,547 shares. The mentioned changes placed institutional holdings at 93,167,801 shares, according to the latest SEC report filing. ENPH stock had 205 new institutional investments in for a total of 4,513,239 shares, while 39 institutional investors sold positions of 610,462 shares during the same period.

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