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 $616,348 were sold by RANHOFF DAVID A on Jun 17 ’24. At $123.27 per share, RANHOFF DAVID A sold 5,000 shares. The insider’s holdings dropped to 107,943 shares worth approximately $11.36 million following the completion of this transaction.
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Also, Rodgers Thurman J sold 5,188 shares, netting a total of over 672,346 in proceeds. Following the sale of shares at $129.60 each, the insider now holds 1,979,374 shares.
Before that, Rodgers Thurman J had sold 319,526 shares from its account. In a trade valued at $40,431,110, the Director traded Enphase Energy Inc shares for $126.53 each. Upon closing the transaction, the insider’s holdings decreased to 319,526 shares, worth approximately $208.84 million.
As published in a research note from HSBC Securities on June 10, 2024, Enphase Energy Inc [ENPH] has been rated up from a Hold to a Buy and the price target has been revised to $166. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late April. As of April 24, 2024, TD Cowen has reiterated its “Buy” rating for ENPH. Earlier on April 24, 2024, Jefferies downgraded its rating. Their new recommendation was “a Hold” for ENPH stock which previously was a “a Buy”.
Analyzing ENPH Stock Performance
During the last five days, there has been a drop of approximately -3.08%. Over the course of the year, Enphase Energy Inc shares have dropped approximately -20.36%. Shares of the company reached a 52-week high of $141.63 on 06/12/24 and a 52-week low of $93.52 on 02/05/24. A 50-day SMA is recorded $116.72, while a 200-day SMA reached $113.66. Nevertheless, trading volume fell to 3.19 million shares from 4.49 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 102.38, which, if violated, would cause prices to drop to 99.52. In the upper region, resistance lies at 107.29. The next price resistance is at 109.34. RSI (Relative Strength Index) is 37.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -14.36, which suggests the price will decrease in the coming days. Percent R is at 88.31%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
