Enphase Energy Inc (NASDAQ:ENPH) shares, rose in value, with the stock price up by 1.84% to the previous day’s close as strong demand from buyers drove the stock to $120.78.
Actively observing the price movement in the last trading, the stock closed the session at $118.60. The value of beta (5-year monthly) was 1.47 whereas the PE ratio was 39.40 over 12-month period. Referring to stock’s 52-week performance, its high was $231.42, and the low was $73.49. On the whole, ENPH has fluctuated by -3.45% over the past month.
With the market capitalization of Enphase Energy Inc currently standing at about $16.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 23, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.41, which is expected to increase to $0.89 for fiscal year $3.35 and then to about $5.49 by fiscal year 2025. Data indicates that the EPS growth is expected to be -24.00% in 2025, while the next year’s EPS growth is forecast to be 63.90%.
Analysts have estimated the company’s revenue for the quarter at $283.97 million, with a low estimate of $263.48 million and a high estimate of $380 million. According to the average forecast, sales growth in current quarter could jump down -60.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.61 billion, representing a decrease of -29.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that ENPH’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 2.66, with the price of ENPH currently trading nearly 2.92% and 2.81% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.37, while the 7-day volatility ratio is showing 5.03% which for the 30-day chart, stands at 5.13%. Furthermore, Enphase Energy Inc (ENPH)’s beta value is 1.47, and its average true range (ATR) is 6.47.
A comparison of Enphase Energy Inc (ENPH) with its peers suggests the former has fared considerably weaker in the market. ENPH showed an intraday change of 1.84% in last session, and over the past year, it shrunk by -40.38%%.
Data on historical trading for Enphase Energy Inc (NASDAQ:ENPH) indicates that the trading volumes over the past 10 days have averaged 2.97 million and over the past 3 months, they’ve averaged 4.12 million. According to company’s latest data on outstanding shares, there are 135.72 million shares outstanding.
Nearly 3.95% of Enphase Energy Inc’s shares belong to company insiders and institutional investors own 75.81% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.02 million shares as on Mar 15, 2024, resulting in a short ratio of 2.8. According to the data, the short interest in Enphase Energy Inc (ENPH) stood at 7.38% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 10.26 million. The stock has fallen by -8.60% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ENPH stock heading into the next quarter.
