Craig Hallum lifts Enphase Energy Inc. [ENPH] price estimate. Who else is bullish?


Enphase Energy Inc. [NASDAQ: ENPH] gained 1.45% or 2.96 points to close at $206.95 with a heavy trading volume of 2967485 shares. The company report on April 7, 2022 that Enphase Energy Expands Battery Storage in Nevada.

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Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in Nevada have seen growing deployments of the Enphase Energy System, powered by IQ™ Microinverters and IQ™ Batteries.

Residential battery capacity is growing in Nevada, with forecasts estimating deployments will multiply nearly six-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.

It opened the trading session at $203.76, the shares rose to $215.47 and dropped to $201.29, the range by which the price of stock traded the whole day. The daily chart for ENPH points out that the company has recorded 31.62% gains over the past six months. However, it is still -90.07% lower than its most recent low trading price.

If we look at the average trading volume of 3.36M shares, ENPH reached to a volume of 2967485 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 $221.88 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 2.10. 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.

Craig Hallum have made an estimate for Enphase Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 09, 2022. While these analysts kept the previous recommendation, Truist dropped their target price from $290 to $200. The new note on the price target was released on January 24, 2022, representing the official price target for Enphase Energy Inc. stock. Previously, the target price had yet another raise to $213, while Guggenheim analysts kept a Buy rating on ENPH stock. On January 05, 2022, analysts decreased their price target for ENPH shares from 297 to 187.

The Average True Range (ATR) for Enphase Energy Inc. is set at 11.85, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 19.66. The Price to Book ratio for the last quarter was 64.87, with the Price to Cash per share for the same quarter was set at 7.74. Price to Free Cash Flow for ENPH in the course of the last twelve months was 90.64 with Quick ratio for the last quarter at 3.20.

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 2.56. With this latest performance, ENPH shares gained by 15.06% in over the last four-week period, additionally plugging by 31.62% over the last 6 months – not to mention a rise of 36.74% 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 62.70, with the RSI for the last a single of trading hit 62.16, and the three-weeks RSI is set at 61.31 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 166.69, while it was recorded at 208.89 for the last single week of trading, and 180.12 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 +15.97 and a Gross Margin at +40.12. Enphase Energy Inc.’s Net Margin is presently recorded at +10.52.

Return on Equity for this stock inclined to 31.82, with Return on Assets sitting at 8.87.

Enphase Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.30.

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 15.60%.

An analysis of insider ownership at Enphase Energy Inc. [ENPH]

There are presently around $18,961 million, or 73.00% of ENPH stock, in the hands of institutional investors. The top three institutional holders of ENPH stocks are: BLACKROCK INC. with ownership of 14,961,479, which is approximately 7.4% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 13,920,337 shares of the stock with an approximate value of $2.84 billion in ENPH stocks shares; and STATE STREET CORP, currently with $1.07 billion in ENPH stock with ownership of nearly 3.298% of the company’s market capitalization.

Positions in Enphase Energy Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 446 institutional holders increased their position in Enphase Energy Inc. [NASDAQ:ENPH] by around 10,269,186 shares. Additionally, 278 investors decreased positions by around 10,493,121 shares, while 76 investors held positions by with 72,186,038 shares. The mentioned changes placed institutional holdings at 92,948,345 shares, according to the latest SEC report filing. ENPH stock had 169 new institutional investments in for a total of 3,241,006 shares, while 57 institutional investors sold positions of 1,427,255 shares during the same period.