Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Enphase Energy Inc. shares valued at $839,964 were sold by MORA RICHARD on Aug 02. At $297.33 per share, MORA RICHARD sold 2,825 shares. The insider’s holdings dropped to 1,600 shares worth approximately $0.47 million following the completion of this transaction.
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Also, GOMO STEVEN J sold 35,822 shares, netting a total of over 10,001,854 in proceeds. Following the sale of shares at $279.21 each, the insider now holds 41,456 shares.
Before that, Kortlang Benjamin John had sold 50,000 shares from its account. In a trade valued at $13,429,419, the Director traded Enphase Energy Inc. shares for $268.59 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $60.0 million.
As published in a research note from Credit Suisse on July 28, 2022, Enphase Energy Inc. [ENPH] has been rated up from a Neutral to an Outperform and the price target has been revised to $281 from $174. This represents a -5.27% premium over Thursday’s closing price. As of April 14, 2022, Stephens has initiated its “an Overweight” rating for ENPH. Earlier on February 09, 2022, Craig Hallum upgraded its rating. Their new recommendation was “a Buy” for ENPH stock which previously was a “a Hold”.
Analyzing ENPH’s Price Performance
On Thursday, Enphase Energy Inc. [NASDAQ: ENPH] rose 1.92% to $295.82. The stock’s lowest price that day was $284.78, but it reached a high of $298.24 in the same session. During the last five days, there has been a surge of approximately 7.89%. Over the course of the year, Enphase Energy Inc. shares have jumped approximately 61.70%. Shares of the company reached a 52-week high of $298.97 on 08/02/22 and a 52-week low of $113.40 on 01/24/22. A 50-day SMA is recorded $208.16, while a 200-day SMA reached $189.11. Nevertheless, trading volume fell to 2.93 million shares from 4.41 million shares the previous day.
Support And Resistance Levels for Enphase Energy Inc. (ENPH)
According to the 24-hour chart, there is a support level at 287.65, which, if violated, would cause prices to drop to 279.49. In the upper region, resistance lies at 301.11. The next price resistance is at 306.41. RSI (Relative Strength Index) is 76.99 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 44.43, which suggests the price will increase in the coming days. Percent R is at 3.17%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Enphase Energy Inc. subject to short interest?
Stocks of Enphase Energy Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 30000.0 shares to 4.5 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.53 million shares. A decline of -0.67% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.51 of the overall float, the days-to-cover ratio (short ratio) decline to 1.51.
Which companies own the most shares of Enphase Energy Inc. (ENPH)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,446,167 shares, which is about 9.96% of the total ENPH shares outstanding. The investor’s shares have appreciated by 79,183 from its previous 13-F filing of 13366984.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,888,215,631. SSgA Funds Management, Inc. reduced a -0.29% interest valued at $1.02 billion while BlackRock Advisors purchased a 215,965 stake. A total of 1,982,411 shares of Enphase Energy Inc. were bought by Allianz Global Investors U.S. LLC during the quarter, and 194,944 were bought by Invesco Capital Management LLC. In its current portfolio, Geode Capital Management LLC holds 2,622,824 shares valued at $512.08 million.
In terms of Enphase Energy Inc. share price expectations, FactSet research, analysts set an average price target of $262.37 in the next 12 months, down nearly -8.7% from the previous closing price of $290.25. Analysts anticipate Enphase Energy Inc. stock to reach $315.00 by 2022, with the lowest price target being $194.00. In spite of this, 31 analysts ranked Enphase Energy Inc. stock as an Overweight at the end of 2022. On January 24, 2022, Truist assigned a price target of “a Buy” to the stock and reiterated coverage with a $200.