Selling Buzz: Enphase Energy Inc. [ENPH] President & CEO Kothandaraman Badrinarayanan sells 36,083 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Enphase Energy Inc. shares valued at $10,699,271 were sold by Kothandaraman Badrinarayanan on Sep 13. At $296.52 per share, Kothandaraman Badrinarayanan sold 36,083 shares. The insider’s holdings dropped to 1,095,133 shares worth approximately $310.61 million following the completion of this transaction.


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Also, Kothandaraman Badrinarayanan sold 82,835 shares, netting a total of over 24,934,670 in proceeds. Following the sale of shares at $301.02 each, the insider now holds 1,131,216 shares.

Before that, RANHOFF DAVID A had sold 5,369 shares from its account. In a trade valued at $1,573,301, the EVP & Chief Commercial Officer traded Enphase Energy Inc. shares for $293.03 each. Upon closing the transaction, the insider’s holdings decreased to 5,369 shares, worth approximately $26.35 million.

As published in a research note from Guggenheim on September 09, 2022, Enphase Energy Inc. [ENPH] has been rated down from a Buy to a Neutral. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early August. As of July 28, 2022, Credit Suisse has increased its “Neutral” rating to a “an Outperform” for ENPH.

Analyzing ENPH’s Price Performance

On Thursday, Enphase Energy Inc. [NASDAQ: ENPH] plunged -6.87% to $283.63. The stock’s lowest price that day was $280.975, but it reached a high of $306.00 in the same session. During the last five days, there has been a drop of approximately -9.15%. Over the course of the year, Enphase Energy Inc. shares have jumped approximately 55.04%. Shares of the company reached a 52-week high of $324.84 on 09/08/22 and a 52-week low of $113.40 on 01/24/22. A 50-day SMA is recorded $279.62, while a 200-day SMA reached $200.40. Nevertheless, trading volume fell to 4.69 million shares from 4.19 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 274.40, which, if violated, would cause prices to drop to 265.18. In the upper region, resistance lies at 299.43. The next price resistance is at 315.23. RSI (Relative Strength Index) is 43.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.49, which suggests the price will decrease in the coming days. Percent R is at 81.56%, indicating bearish price movement. Stochastics %K at holding 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 14,484,475 shares, which is about 10.69% of the total ENPH shares outstanding. The investor’s shares have appreciated by 1,038,308 from its previous 13-F filing of 13446167.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,584,998,117. SSgA Funds Management, Inc. reduced a -1.28% interest valued at $1.47 billion while Allianz Global Investors U.S. LLC purchased a 200,517 stake. A total of -99,282 shares of Enphase Energy Inc. were bought by BlackRock Advisors during the quarter, and 42,239 were bought by Geode Capital Management LLC. In its current portfolio, Invesco Capital Management LLC holds 2,465,438 shares valued at $706.2 million.

In terms of Enphase Energy Inc. share price expectations, FactSet research, analysts set an average price target of $290.88 in the next 12 months, down nearly -3.8% from the previous closing price of $304.56. Analysts anticipate Enphase Energy Inc. stock to reach $363.00 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 April 14, 2022, Stephens assigned a price target of “an Overweight” to the stock and initiated coverage with a $280.

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