The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Enphase Energy Inc shares valued at $566,500 were purchased by DAVID A RANHOFF on Aug 15 ’24. At $113.30 per share, DAVID A RANHOFF acquired 5,000 shares.
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Also, RANHOFF DAVID A sold 5,000 shares, netting a total of over 616,348 in proceeds. Following the sale of shares at $123.27 each, the insider now holds 107,943 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 $232.43 million.
As published in a research note from Exane BNP Paribas on August 07, 2024, Enphase Energy Inc [ENPH] has been rated up from a Neutral to an Outperform and the price target has been revised to $144 from $120. Analysts at Canaccord Genuity resumed the stock at ‘”a Buy”‘ outlook in a report released in late July. As of June 10, 2024, HSBC Securities has increased its “Hold” rating to a “Buy” for ENPH. Earlier on April 26, 2024, Barclays upgraded its rating. Their new recommendation was “an Overweight” for ENPH stock which previously was a “an Equal weight”.
Analyzing ENPH Stock Performance
During the last five days, there has been a surge of approximately 7.65%. Over the course of the year, Enphase Energy Inc shares have dropped approximately -11.37%. 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 $111.81, while a 200-day SMA reached $112.25. Nevertheless, trading volume fell to 2.73 million shares from 1.75 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 113.12, which, if violated, would cause prices to drop to 109.12. In the upper region, resistance lies at 120.41. The next price resistance is at 123.70. RSI (Relative Strength Index) is 57.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.46, which suggests the price will increase in the coming days. Percent R is at 15.98%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
