Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Enphase Energy Inc shares valued at $581,474 were sold by RANHOFF DAVID A on Apr 15 ’24. At $116.29 per share, RANHOFF DAVID A sold 5,000 shares. The insider’s holdings dropped to 119,948 shares worth approximately $12.93 million following the completion of this transaction.
Also, RANHOFF DAVID A sold 5,000 shares, netting a total of over 544,425 in proceeds. Following the sale of shares at $108.89 each, the insider now holds 124,948 shares.
Before that, Kothandaraman Badrinarayanan had added 4,000 shares to its account. In a trade valued at $482,154, the President & CEO bought Enphase Energy Inc shares for $120.54 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $178.48 million.
As published in a research note from TD Cowen on April 24, 2024, Enphase Energy Inc [ENPH] has been retained to a Buy and the price target has been revised to $145. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late April. As of April 24, 2024, Guggenheim has decreased its “Neutral” rating to a “Sell” for ENPH. Earlier on April 17, 2024, DZ Bank initiated its rating. Their recommendation was “a Hold” for ENPH stock.
Analyzing ENPH Stock Performance
During the last five days, there has been a drop of approximately -1.23%. Over the course of the year, Enphase Energy Inc shares have dropped approximately -18.40%. Shares of the company reached a 52-week high of $138.21 on 02/15/24 and a 52-week low of $93.52 on 02/05/24. A 50-day SMA is recorded $118.53, while a 200-day SMA reached $119.65. Nevertheless, trading volume fell to 7.48 million shares from 6.41 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 101.30, which, if violated, would cause prices to drop to 94.78. In the upper region, resistance lies at 111.45. The next price resistance is at 115.08. RSI (Relative Strength Index) is 43.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.73, which suggests the price will decrease in the coming days. Percent R is at 64.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
