Enphase Energy Inc. [NASDAQ: ENPH] gained 5.19% or 9.51 points to close at $192.62 with a heavy trading volume of 4398286 shares. The company report on July 28, 2021 that Enphase Energy Reports Financial Results for the Second Quarter of 2021.
Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced financial results for the second quarter of 2021, which included the summary below from its President and CEO, Badri Kothandaraman.
We reported quarterly revenue of $316.1 million in the second quarter of 2021, along with 40.8% for non-GAAP gross margin. We shipped approximately 2,362,401 microinverters, or 796 megawatts DC, and 43 megawatt hours of Enphase Storage systems.
It opened the trading session at $188.94, the shares rose to $201.50 and dropped to $187.00, the range by which the price of stock traded the whole day. The daily chart for ENPH points out that the company has recorded -0.01% loss over the past six months. However, it is still -228.31% lower than its most recent low trading price.
If we look at the average trading volume of 2.77M shares, ENPH reached to a volume of 4398286 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $193.30 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 2.20. 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.
Seaport Global Securities have made an estimate for Enphase Energy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 15, 2021. While these analysts kept the previous recommendation, Stephens raised their target price to Overweight. The new note on the price target was released on June 25, 2021, representing the official price target for Enphase Energy Inc. stock. Previously, the target price had yet another raise to $220, while Citigroup analysts kept a Buy rating on ENPH stock.
The Average True Range (ATR) for Enphase Energy Inc. is set at 10.09, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 28.60. The Price to Book ratio for the last quarter was 34.52, with the Price to Cash per share for the same quarter was set at 11.52. Price to Free Cash Flow for ENPH in the course of the last twelve months was 127.24 with Quick ratio for the last quarter at 5.10.
Trading performance analysis for ENPH stock
Enphase Energy Inc. [ENPH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.43. With this latest performance, ENPH shares gained by 3.33% in over the last four-week period, additionally sinking by -0.01% over the last 6 months – not to mention a rise of 214.69% 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 63.60, with the RSI for the last a single of trading hit 65.98, and the three-weeks RSI is set at 62.02 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 165.24, while it was recorded at 185.76 for the last single week of trading, and 156.52 for the last 200 days.
Enphase Energy Inc. [ENPH]: A deeper dive into fundamental analysis
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 5.10 and a Current Ratio set at 5.20.
Enphase Energy Inc. [ENPH]: An earnings per share (EPS) analysis
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 41.97%.
An analysis of insider ownership at Enphase Energy Inc. [ENPH]
There are presently around $17,567 million, or 71.70% of ENPH stock, in the hands of institutional investors. The top three institutional holders of ENPH stocks are: VANGUARD GROUP INC with ownership of 13,415,086, which is approximately 20.943% of the company’s market cap and around 1.40% of the total institutional ownership; BLACKROCK INC., holding 13,061,299 shares of the stock with an approximate value of $2.52 billion in ENPH stocks shares; and INVESCO LTD., currently with $966.84 million in ENPH stock with ownership of nearly 14.488% of the company’s market capitalization.
Positions in Enphase Energy Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 370 institutional holders increased their position in Enphase Energy Inc. [NASDAQ:ENPH] by around 16,057,482 shares. Additionally, 281 investors decreased positions by around 19,535,421 shares, while 58 investors held positions by with 55,605,657 shares. The mentioned changes placed institutional holdings at 91,198,560 shares, according to the latest SEC report filing. ENPH stock had 123 new institutional investments in for a total of 2,334,168 shares, while 85 institutional investors sold positions of 1,131,193 shares during the same period.