Goldman Sachs took its Enphase Energy [ENPH] rating to the equivalent of Buy from Neutral, and the price target to $232 from $127, in a research note dated 2021-01-05. That figure represents around a 34.7% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with Needham’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in late October. Meanwhile, Craig Hallum had lowered its rating on ENPH to “Hold” from the earlier “Buy”, in a research note produced for clients October 28, 2020. In addition, Susquehanna launched coverage on October 15, 2020. The research firm rated ENPH “a Positive”.
Is Enphase Energy Inc. [NASDAQ:ENPH] a Good Buy Right Now?
It should be noted that ENPH technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Enphase Energy Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 2.77 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 3.14 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 3.29 million shares.
ENPH Price Performance
On Wall Street, Enphase Energy Inc. [NASDAQ:ENPH] finished Monday’s session down -1.84% at $172.24. The stock went up to $179.15 at the same session while its lowest single day price was $167.07. In the last five days, it saw a fall of about -5.04%, Enphase Energy Inc. shares dropped by almost -1.84% since the beginning of the year. However, the share price has dropped to as low as -9.06% below its one year high. On 01/04/21, the company shares recorded $179.15, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $167.07. The company’s shares have inclined by 488.05% in the past year. The 50-day SMA achieved is $134.32 while the 200-day SMA is $79.22. Volume dropped to 3.88 million from 5.63 million in the previous session.
Enphase Energy Inc. [ENPH] Valuation Measures
Notably, Enphase Energy Inc. [ENPH] stock cannot be classified as a good candidate in the listing of underestimated low-priced Solar companies to purchase soonest possible with the prevailing 12-month PE ratio of 134.98. The measure means the stock is exchanging at a premium as compared to the 32.48x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 29.80 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.63 which means ENPH serve an unattractive investment opportunity compared to its competitors.
ENPH Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 166.49 level, and in case of violation of this particular level, it will cause more drop to 160.74 level. On the upper level, 184.90 is still the key resistance. The stock may increase to the subsequent resistance at 178.57. The Relative Strength Index (RSI) pinned on the 14-day chart is 66.33, implying a neutral technical stance while the MACD stands at 4.06, meaning price will increase in the next trading period. Percent R indicator moved to 33.23%, implying low price movement. Stochastic %K at 72.45% suggest selling the stock.
What is the short interest in Enphase Energy Inc.?
Short interest in the Enphase Energy Inc. stock has surged, increasing by 0.41 million shares to total 9.18 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 9.59 million, data from Yahoo Finance shows. The decrease of -4.47% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.61% of the overall float for the stock.
Enphase Energy Inc.’s Biggest Shareholders: Who Owns Enphase Energy Inc. [ENPH]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 10,633,494 shares or roughly 8.42% of the outstanding ENPH shares. This means their shares have increased by 2,681,442 from the 10,633,494 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $1,439,951,470. Details in the latest 13F filings reveal that Fidelity Management & Research Co disposed off their -31.33% stake valued at $955,438,803 while JPMorgan Investment Management, I cut theirs at $673,615,956. During the last quarter, Fidelity Management & Research Co liquidated -3,191,442 of its shares in Enphase Energy Inc. while JPMorgan Investment Management, I sold -1,324,638 shares. The Sylebra Capital Ltd.’s holdings currently number 4,188,531 shares at $721432579.44. According to the firm’s last 13F report, Invesco Capital Management LLC shares in the company at filing stood at 2,685,412 shares, roughly $366,746,717.
ENPH Earnings Forecast For The Current Quarter
Enphase Energy Inc. [ENPH] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $255.11M and an earnings per share of $0.4 for Dec 2020. Looking further ahead, the company is expected to report revenue of $261.33M at an EPS of $0.35 for Mar 2021. The estimates represent upside of 62.30% and 45.83% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ENPH Earnings Estimates For The Current Year
For the financial year, Enphase Energy Inc. [NASDAQ:ENPH] is expected to bring in revenue of $765.01M. The returns are nearly $141.68 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.27, higher than that of FY19 by $0.32. Estimates put this year’s earnings growth at 33.70%, 45.70% for the next, and at an annual 36.61% over the next 5-year period. As for sales, forecasts are for an increase of 22.70% in the current fiscal year and a further 62.30% over the following year.