Enphase Energy Inc (ENPH) Shares Plummet Below 1-Year High

The stock of Enphase Energy Inc (NASDAQ: ENPH) has decreased by -3.32 when compared to last closing price of 118.29.Despite this, the company has seen a gain of 2.98% in its stock price over the last five trading days. Green Stock News reported 2024-04-02 that Enphase Energy (NASDAQ: ENPH), a global leader in energy technology, has begun shipping IQ8 Microinverters in France and Spain. These microinverters are specifically designed to support newer, high-powered solar modules, maximizing energy production by managing a continuous DC current of 14 amperes.

Is It Worth Investing in Enphase Energy Inc (NASDAQ: ENPH) Right Now?

The price-to-earnings ratio for Enphase Energy Inc (NASDAQ: ENPH) is above average at 37.30x, Company’s 36-month beta value is 1.47.Analysts have differing opinions on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 4 as “hold,” and 0 as “sell.”

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The public float for ENPH is 130.39M, and currently, short sellers hold a 7.68% ratio of that floaft. The average trading volume of ENPH on April 02, 2024 was 4.18M shares.

ENPH’s Market Performance

The stock of Enphase Energy Inc (ENPH) has seen a 2.98% increase in the past week, with a -11.80% drop in the past month, and a -13.46% fall in the past quarter. The volatility ratio for the week is 5.23%, and the volatility levels for the past 30 days are at 5.20% for ENPH. The simple moving average for the last 20 days is -3.24% for ENPH’s stock, with a simple moving average of -8.15% for the last 200 days.

Analysts’ Opinion of ENPH

Many brokerage firms have already submitted their reports for ENPH stocks, with RBC Capital Mkts repeating the rating for ENPH by listing it as a “Outperform.” The predicted price for ENPH in the upcoming period, according to RBC Capital Mkts is $140 based on the research report published on February 14, 2024 of the current year 2024.

Oppenheimer, on the other hand, stated in their research note that they expect to see ENPH reach a price target of $133. The rating they have provided for ENPH stocks is “Outperform” according to the report published on February 07th, 2024.

Truist gave a rating of “Buy” to ENPH, setting the target price at $145 in the report published on January 23rd of the current year.

ENPH Trading at -2.30% from the 50-Day Moving Average

After a stumble in the market that brought ENPH to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -50.58% of loss for the given period.

Volatility was left at 5.20%, however, over the last 30 days, the volatility rate increased by 5.23%, as shares sank -8.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.08% upper at present.

During the last 5 trading sessions, ENPH rose by +2.69%, which changed the moving average for the period of 200-days by -36.36% in comparison to the 20-day moving average, which settled at $117.70. In addition, Enphase Energy Inc saw -13.46% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ENPH starting from RANHOFF DAVID A, who sale 5,000 shares at the price of $108.89 back on Mar 15 ’24. After this action, RANHOFF DAVID A now owns 124,948 shares of Enphase Energy Inc, valued at $544,425 using the latest closing price.

Kothandaraman Badrinarayanan, the President & CEO of Enphase Energy Inc, purchase 4,000 shares at $120.54 during a trade that took place back on Feb 27 ’24, which means that Kothandaraman Badrinarayanan is holding 1,655,171 shares at $482,154 based on the most recent closing price.

Stock Fundamentals for ENPH

Current profitability levels for the company are sitting at:

  • 0.19 for the present operating margin
  • 0.46 for the gross margin

The net margin for Enphase Energy Inc stands at 0.19. The total capital return value is set at 0.16. Equity return is now at value 48.52, with 13.57 for asset returns.

Based on Enphase Energy Inc (ENPH), the company’s capital structure generated 0.57 points at debt to capital in total, while cash flow to debt ratio is standing at 0.54. The debt to equity ratio resting at 1.32. The interest coverage ratio of the stock is 50.43.

Currently, EBITDA for the company is 612.37 million with net debt to EBITDA at 1.65. When we switch over and look at the enterprise to sales, we see a ratio of 7.23. The receivables turnover for the company is 5.14for trailing twelve months and the total asset turnover is 0.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.59.

Conclusion

In a nutshell, Enphase Energy Inc (ENPH) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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