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

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Enphase Energy Inc. [NASDAQ: ENPH] stock went on a downward path that fall over -8.05% on Tuesday, amounting to a one-week price decrease of less than -1.62%. The company report on July 11, 2022 that Enphase Energy Expands Battery Storage in Rhode Island.


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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 Rhode Island have seen growing deployments of Enphase Energy Systems powered by IQ® Microinverters and IQ™ Batteries as increasingly common hurricanes and extreme weather leave homeowners highly vulnerable to power outages.

Residential battery capacity in Rhode Island is increasing 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.

Over the last 12 months, ENPH stock rose by 2.02%. The one-year Enphase Energy Inc. stock forecast points to a potential upside of 18.01. The average equity rating for ENPH stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $24.45 billion, with 134.33 million shares outstanding and 131.36 million shares in the current float. Compared to the average trading volume of 2.69M shares, ENPH stock reached a trading volume of 3480942 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $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 14.83, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 16.07. The Price to Book ratio for the last quarter was 77.02, with the Price to Cash per share for the same quarter was set at 8.24. Price to Free Cash Flow for ENPH in the course of the last twelve months was 75.48 with Quick ratio for the last quarter at 3.20.

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 -1.62. With this latest performance, ENPH shares dropped by -5.51% in over the last four-week period, additionally plugging by 30.55% over the last 6 months – not to mention a rise of 2.02% 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 48.33, with the RSI for the last a single of trading hit 45.02, and the three-weeks RSI is set at 49.88 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 181.94, while it was recorded at 202.75 for the last single week of trading, and 182.31 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 +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.

ENPH Stock EPS

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%.

Enphase Energy Inc. [ENPH] Insider Position Details

There are presently around $19,243 million, or 74.00% 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 $2.88 billion in ENPH stocks shares; and STATE STREET CORP, currently with $1.07 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 448 institutional holders increased their position in Enphase Energy Inc. [NASDAQ:ENPH] by around 11,023,327 shares. Additionally, 358 investors decreased positions by around 9,351,176 shares, while 77 investors held positions by with 73,010,583 shares. The mentioned changes placed institutional holdings at 93,385,086 shares, according to the latest SEC report filing. ENPH stock had 141 new institutional investments in for a total of 2,146,269 shares, while 114 institutional investors sold positions of 2,321,417 shares during the same period.

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