Enphase Energy Inc. [ENPH] stock Initiated by Barclays analyst, price target now $292

Enphase Energy Inc. [NASDAQ: ENPH] traded at a high on 08/18/22, posting a 0.30 gain after which it closed the day’ session at $294.00. The company report on August 18, 2022 that Enphase Energy and Complete Solar Expand Solar and Battery Deployments Across the United States.

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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 Complete Solar, a leading technology-enabled residential solar company transforming the energy transition process for homeowners and small businesses across the United States, is seeing increased deployments of Enphase® Energy Systems powered by IQ8™ Microinverters and IQ™ Batteries, as homeowners across the United States are hit with extreme weather and rising energy prices.

Complete Solar has seen a significant increase in solar and battery installations for new residential customers over the past several years. Homeowners are seeking smart, reliable, and safer solutions, such as the Enphase IQ Microinverters and Batteries, for home energy systems to help keep the lights on. And with the revolutionary IQ8 Microinverter, the industry’s first microgrid-forming microinverter launched late last year, the Enphase Energy System offers homeowners even greater resilience than ever before.

The results of the trading session contributed to over 2128951 shares changing hands. Over the past one week, the price volatility of Enphase Energy Inc. stands at 3.85% while the volatility over the past one month is 5.85%.

The market cap for ENPH stock reached $38.98 billion, with 135.20 million shares outstanding and 132.73 million shares in the current float. Compared to the average trading volume of 3.13M shares, ENPH reached a trading volume of 2128951 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 $268.84 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.

Barclays have made an estimate for Enphase Energy Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on August 05, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $174 to $281. The new note on the price target was released on July 28, 2022, representing the official price target for Enphase Energy Inc. stock. Previously, the target price had yet another raise to $205, while Truist analysts kept a Buy rating on ENPH stock.

The Average True Range (ATR) for Enphase Energy Inc. is set at 15.56, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 22.46. The Price to Book ratio for the last quarter was 88.02, with the Price to Cash per share for the same quarter was set at 9.41. Price to Free Cash Flow for ENPH in the course of the last twelve months was 83.54 with Quick ratio for the last quarter at 3.30.

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 0.38. With this latest performance, ENPH shares gained by 34.35% in over the last four-week period, additionally plugging by 90.87% over the last 6 months – not to mention a rise of 80.96% 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 64.84, with the RSI for the last a single of trading hit 62.16, and the three-weeks RSI is set at 64.83 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 229.68, while it was recorded at 296.09 for the last single week of trading, and 193.95 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 3.30 and a Current Ratio set at 3.60.

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 32.23%.

Insider trade positions for Enphase Energy Inc. [ENPH]

There are presently around $28,645 million, or 73.90% of ENPH stock, in the hands of institutional investors. The top three institutional holders of ENPH stocks are: VANGUARD GROUP INC with ownership of 15,035,954, which is approximately 7.551% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 14,462,719 shares of the stock with an approximate value of $4.25 billion in ENPH stocks shares; and STATE STREET CORP, currently with $1.51 billion in ENPH stock with ownership of nearly -1.276% 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 10,652,631 shares. Additionally, 358 investors decreased positions by around 6,292,699 shares, while 95 investors held positions by with 80,486,008 shares. The mentioned changes placed institutional holdings at 97,431,338 shares, according to the latest SEC report filing. ENPH stock had 131 new institutional investments in for a total of 1,800,953 shares, while 84 institutional investors sold positions of 963,857 shares during the same period.


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