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 $549,232 were purchased by DAVID A RANHOFF on Sep 16 ’24. At $109.85 per share, DAVID A RANHOFF acquired 5,000 shares.
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Also, DAVID A RANHOFF purchased 5,000 shares, netting a total of over 566,500 in proceeds.
Before that, RANHOFF DAVID A had sold 5,000 shares from its account. In a trade valued at $616,348, the EVP & Chief Commercial Officer traded Enphase Energy Inc shares for $123.27 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $8.75 million.
As published in a research note from TD Cowen on October 23, 2024, Enphase Energy Inc [ENPH] has been retained to a Buy and the price target has been revised to $120. Analysts at Janney downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late October. As of October 23, 2024, Guggenheim has decreased its “Neutral” rating to a “Sell” for ENPH. Earlier on October 23, 2024, Canaccord Genuity 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 -11.43%. Over the course of the year, Enphase Energy Inc shares have dropped approximately -38.63%. Shares of the company reached a 52-week high of $141.63 on 06/12/24 and a 52-week low of $76.68 on 10/23/24. A 50-day SMA is recorded $109.01, while a 200-day SMA reached $113.23. Nevertheless, trading volume fell to 6.47 million shares from 7.1 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 79.07, which, if violated, would cause prices to drop to 77.05. In the upper region, resistance lies at 83.09. The next price resistance is at 85.09. RSI (Relative Strength Index) is 26.73 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.93, which suggests the price will decrease in the coming days. Percent R is at 85.49%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
