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ENPH (Enphase Energy Inc) may reap gains as insiders became active recently

Enphase Energy Inc’s filing revealed that its Director GOMO STEVEN J unloaded Company’s shares for reported $2.75 million on Apr 26 ’24. In the deal valued at $110.08 per share,25,000 shares were sold. As a result of this transaction, GOMO STEVEN J now holds 93,360 shares worth roughly $10.63 million.

Then, GOMO STEVEN J sold 20,000 shares, generating $2,093,735 in total proceeds. Upon selling the shares at $104.69, the Director now owns 118,360 shares.

Before that, RANHOFF DAVID A sold 5,000 shares. Enphase Energy Inc shares valued at $581,474 were divested by the EVP & Chief Commercial Officer at a price of $116.29 per share. As a result of the transaction, RANHOFF DAVID A now holds 119,948 shares, worth roughly $13.66 million.

Barclays upgraded its Enphase Energy Inc [ENPH] rating to an Overweight from a an Equal weight in a research note published on April 26, 2024; the price target was increased to $134 from $115. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late April has reiterated a ‘”a Buy”‘ rating for it. Jefferies also remained covering ENPH and has decreased its forecast on April 24, 2024 with a “Hold” recommendation from previously “Buy” rating. Guggenheim revised its rating on April 24, 2024. It rated ENPH as “a Sell” which previously was an “a Neutral”.

Price Performance Review of ENPH

On Monday, Enphase Energy Inc [NASDAQ:ENPH] saw its stock jump 1.72% to $113.85. Over the last five days, the stock has gained 3.02%. Enphase Energy Inc shares have fallen nearly -13.84% since the year began. Nevertheless, the stocks have fallen -30.66% over the past one year. While a 52-week high of $192.22 was reached on 02/15/24, a 52-week low of $73.49 was recorded on 02/05/24. SMA at 50 days reached $117.68, while 200 days put it at $118.96. A total of 3.12 million shares were traded, compared to the trading of 10.89 million shares in the previous session.

Levels Of Support And Resistance For ENPH Stock

The 24-hour chart illustrates a support level at 111.40, which if violated will result in even more drops to 108.96. On the upside, there is a resistance level at 116.02. A further resistance level may holdings at 118.20. The Relative Strength Index (RSI) on the 14-day chart is 50.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.48%. Stochastics %K at 48.50% indicates the stock is a holding.

The most recent change occurred on April 17, 2024 when DZ Bank began covering the stock and recommended ‘”a Hold”‘ rating .

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