Enphase Energy Inc’s filing revealed that its EVP & Chief Commercial Officer RANHOFF DAVID A unloaded Company’s shares for reported $0.54 million on Mar 15 ’24. In the deal valued at $108.89 per share,5,000 shares were sold. As a result of this transaction, RANHOFF DAVID A now holds 124,948 shares worth roughly $14.4 million.
Then, Kothandaraman Badrinarayanan bought 4,000 shares, generating $482,154 in total proceeds. Upon buying the shares at $120.54, the President & CEO now owns 1,655,171 shares.
Before that, MORA RICHARD sold 24,285 shares. Enphase Energy Inc shares valued at $2,928,586 were divested by the Director at a price of $120.59 per share. As a result of the transaction, MORA RICHARD now holds 3,126 shares, worth roughly $0.36 million.
Citigroup downgraded its Enphase Energy Inc [ENPH] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who began to cover the stock in mid February with a ‘”an Outperform”‘ rating. Oppenheimer also remained covering ENPH and has increased its forecast on February 07, 2024 with a “an Outperform” recommendation from previously “Perform” rating. Truist revised its rating on January 23, 2024. It rated ENPH as “a Buy” which previously was an “a Hold”.
Price Performance Review of ENPH
On Monday, Enphase Energy Inc [NASDAQ:ENPH] saw its stock jump 2.65% to $115.24. Over the last five days, the stock has lost -2.58%. Enphase Energy Inc shares have fallen nearly -12.79% since the year began. Nevertheless, the stocks have fallen -40.50% over the past one year. While a 52-week high of $231.42 was reached on 02/15/24, a 52-week low of $73.49 was recorded on 02/05/24. SMA at 50 days reached $117.92, while 200 days put it at $123.01. A total of 2.62 million shares were traded, compared to the trading of 2.92 million shares in the previous session.
Levels Of Support And Resistance For ENPH Stock
The 24-hour chart illustrates a support level at 112.92, which if violated will result in even more drops to 110.59. On the upside, there is a resistance level at 117.01. A further resistance level may holdings at 118.77. The Relative Strength Index (RSI) on the 14-day chart is 48.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.90, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.91%. Stochastics %K at 43.62% indicates the stock is a holding.
How much short interest is there in Enphase Energy Inc?
A steep rise in short interest was recorded in Enphase Energy Inc stocks on Mar 15, 2024, dropping by -0.24 million shares to a total of 10.02 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 10.26 million shares. There was a decline of -2.4%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.79% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.8.
The most recent change occurred on January 16, 2024 when Canaccord Genuity began covering the stock and recommended ‘”a Buy”‘ rating along with a $142 price target.
