Enphase Energy, Inc. (NASDAQ:ENPH) grew as high as $4.5 on Thursday before closing at $4.1. The -7.03 percent plunge dragged its market cap to $395.24M. The shares went down as low as $4.07 before recovering. Trading activity significantly improved as the volume at ready counter increased to 3,475,066 shares versus 2,588,385 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 2,606,338 shares. The stock is now 238.84% above against its bear-market low of $1.21 on October 19, 2017. It has retreated -85.37% since it’s 52-week high of $7.6 reached in July. Now the market price is up 217.83% on the year and up 70.12% YTD.
ENPH’s 50 day simple moving average (SMA 50) price is $5.65 and its 200-day simple moving average (SMA 200) price is $4.37. The company’s stock currently has a total float of 66.88M shares. Its weekly volatility is hovering around 5.87% and felt 6.82% volatility in price over a month. On the upside, the share price will test short term resistance at around $4.38. On a downside, the stock is likely to find some support, which begins at $3.95. The failure to get near-term support could push it to $3.79.
The insider holding in Enphase Energy, Inc. (ENPH) stood at 0.2% while institutions hold 45.7%. Electron Capital Partners, Llc is the largest single holder among mutual funds with ownership of over 4M ENPH shares as of June 30, with a market value of approx. $26.9M as of today. The second largest holder, Gilder Gagnon Howe & Co Llc, with 3.15M shares which equates to $21.22M worth of the stock. At third is Tenzing Global Management, Llc, which stood pat with 3M shares, a 5.11% position in Enphase Energy, Inc., worth $20.19M.
Separately, it has been reported that multiple insider activity took place at Enphase Energy, Inc. (ENPH). VP & CFO Branderiz Eric acquired 19,880 shares for $19,880 in transaction occurred on 2018/08/23. After making this transaction, the VP & CFO owns a direct stake of 99,996 shares, worth $81,508, as per the last closing price. On 2018/08/20 Kothandaraman Badrinarayanan, President & CEO at ENPH, purchased 15,000 shares at an average price of $4.88 per share. The new stake is valued at $392,276.
Director, Weber John Howard had divested 77,551 shares through a trade on 2018/03/06. Following this activity, the insider holds 300,898 shares. Wall Street’s most bullish Enphase Energy, Inc. (NASDAQ:ENPH) analysts are predicting the share price to blow past $9 per share during the next 12 months. The current median share price forecast by them is $7.25, suggesting that the stock could increase 76.83% in that time frame. The average price target of $7.46 calls for a nearly 81.95% increase in the stock price.
It had seen a change in price target from analysts at Craig Hallum, who reiterated the stock at Buy on June 05 but moved PT from $6 to $8. Analysts at H.C. Wainwright, started covering the stock on May 16 with a Buy rating. Analysts at B. Riley FBR, Inc., made their first call about the stock on March 27, recommending it is Buy. ROTH Capital analysts came out with bullish views on February 28 when the call was made. They think the stock is now Buy compared to to their prior call for Neutral.
When looking at valuations, Enphase Energy, Inc. (ENPH) has a pricey P/E of 21.81x as compared to industry average of 12.21x. Moreover, it trades for 14.75 times the next 12 months of expected earnings. Compared to others, Enphase Energy, Inc. is in a different league with regards to profitability, having net margins of -6.2%. To put some perspective around this, the industry’s average net margin is -6.59%. ENPH’s ROE is 95.5%, which is also considerably better than the industry’s ROE of 15.62%. It’s also very liquid in the near term, with a current ratio of 1.4. The stock has a debt/capital of 0.
Shares of Enphase Energy, Inc. (ENPH) have dropped -75% since the company’s Sep-18 earnings report. Over the past 12 fiscal quarters, Enphase Energy, Inc. (NASDAQ:ENPH) has topped consensus earnings estimates in 5 quarters (41%), missed earnings in 6 quarters (50%), whereas at 1 occasion EPS met analyst expectations. ENPH last reported earnings on July 31, 2018 when it released Jun-18 results that exceeded expectations. The company raked in $0.02 per share, -99.99% change on the same period last year. That was better than consensus for $0.01. Revenue for the recent quarter stood at $75.9 million, up 2% on last year and below the $76.67 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $78.5 million to $80.09 million, which should be compared with $89.16 million generated last year. EPS is seen in a range of $0.03 to $0.04, against the $0.03 reported a year ago.
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