Enphase Energy Inc. [NASDAQ: ENPH] traded at a high on 07/07/22, posting a 6.11 gain after which it closed the day’ session at $206.84. The company report on July 6, 2022 that Enphase Energy Expands IQ8 Microinverter Deployments in Massachusetts.
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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 Massachusetts have seen growing deployments of Enphase Energy Systems powered by IQ8™ Microinverters following the product’s launch in North America late last year. IQ8 Microinverters paired with Enphase’s industry leading IQ™ Batteries give homeowners in Massachusetts more energy security as summer heat reaches record highs in parts of the state and strains the grid’s infrastructure.
According to the most recent U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Massachusetts are predicted to reach just over 94 MW in 2022, representing over 600% growth over the last decade. Additionally, residential battery capacity in Massachusetts is increasing steadily year-over-year with forecasts estimating deployments will more than quadruple by the end of 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.
The results of the trading session contributed to over 3816456 shares changing hands. Over the past one week, the price volatility of Enphase Energy Inc. stands at 6.81% while the volatility over the past one month is 6.86%.
The market cap for ENPH stock reached $27.86 billion, with 134.33 million shares outstanding and 131.36 million shares in the current float. Compared to the average trading volume of 2.65M shares, ENPH reached a trading volume of 3816456 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $231.10 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 2.00. 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 May 02, 2022. While these analysts kept the previous recommendation, Stephens raised their target price to Overweight. The new note on the price target was released on April 14, 2022, representing the official price target for Enphase Energy Inc. stock. On January 24, 2022, analysts decreased their price target for ENPH shares from 290 to 200.
The Average True Range (ATR) for Enphase Energy Inc. is set at 14.02, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 18.31. The Price to Book ratio for the last quarter was 84.08, with the Price to Cash per share for the same quarter was set at 7.90. Price to Free Cash Flow for ENPH in the course of the last twelve months was 86.02 with Quick ratio for the last quarter at 3.20.
How has ENPH stock performed recently?
Enphase Energy Inc. [ENPH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.02. With this latest performance, ENPH shares dropped by -0.06% in over the last four-week period, additionally plugging by 16.02% over the last 6 months – not to mention a rise of 13.75% 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 58.67, with the RSI for the last a single of trading hit 61.70, and the three-weeks RSI is set at 56.95 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 179.38, while it was recorded at 197.06 for the last single week of trading, and 181.61 for the last 200 days.
Enphase Energy Inc. [ENPH]: Deeper insight into the fundamentals
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 3.40.
Earnings analysis for Enphase Energy Inc. [ENPH]
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 20.74%.
Insider trade positions for Enphase Energy Inc. [ENPH]
There are presently around $19,303 million, or 73.90% of ENPH stock, in the hands of institutional investors. The top three institutional holders of ENPH stocks are: BLACKROCK INC. with ownership of 15,018,530, which is approximately 0.381% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 13,980,361 shares of the stock with an approximate value of $2.89 billion in ENPH stocks shares; and STATE STREET CORP, currently with $1.08 billion in ENPH stock with ownership of nearly -0.294% 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 453 institutional holders increased their position in Enphase Energy Inc. [NASDAQ:ENPH] by around 11,086,157 shares. Additionally, 359 investors decreased positions by around 9,660,019 shares, while 75 investors held positions by with 72,575,591 shares. The mentioned changes placed institutional holdings at 93,321,767 shares, according to the latest SEC report filing. ENPH stock had 146 new institutional investments in for a total of 2,176,165 shares, while 117 institutional investors sold positions of 2,631,233 shares during the same period.