Enphase Energy Inc. (ENPH) – Don’t Believe the Hype: Check The Facts

567 institutions hold shares in Enphase Energy Inc. (ENPH), with 11.36M shares held by insiders accounting for 8.80% while institutional investors hold 85.11% of the company’s shares. The shares outstanding are 126.99M, and float is at 115.26M with Short Float at 5.38%. Institutions hold 77.62% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 15.01 million shares valued at $2.63 billion. The investor’s holdings represent 11.88% of the ENPH Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 10.71 million shares valued at $884.88 million to account for 8.48% of the shares outstanding. The other top investors are FMR, LLC which holds 6.35 million shares representing 5.02% and valued at over $1.11 billion, while JP Morgan Chase & Company holds 4.83% of the shares totaling 6.1 million with a market value of $503.82 million.

Enphase Energy Inc. (NASDAQ: ENPH) is -4.34% lower on its value in year-to-date trading and has touched a low of $21.49 and a high of $229.04 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ENPH stock was last observed hovering at around $189.74 in the last trading session, with the day’s loss setting it -21.88% off its average median price target of $230.00 for the next 12 months. It is also 36.89% off the consensus price target high of $266.00 offered by 21 analysts, but current levels are -0.51% lower than the price target low of $167.00 for the same period.

Currently trading at $167.86, the stock is -13.48% and -8.94% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.82 million and changing -11.53% at the moment leaves the stock 60.10% off its SMA200. ENPH registered 184.08% gain for a year compared to 6-month gain of 129.66%. The firm has a 50-day simple moving average (SMA 50) of $196.45 and a 200-day simple moving average (SMA200) of $128.56.

The stock witnessed a -20.85% loss in the last 1 month and extending the period to 3 months gives it a 34.37%, and is -18.72% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.91% over the week and 7.12% over the month.

Enphase Energy Inc. (ENPH) has around 850 employees, a market worth around $20.64B and $774.40M in sales. Current P/E ratio is 187.13 and Fwd P/E is 61.94. Profit margin for the company is 17.30%. Distance from 52-week low is 681.11% and -26.71% from its 52-week high. The company has generated returns on investments over the last 12 months (24.70%).

Enphase Energy Inc. (ENPH) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Enphase Energy Inc. (ENPH) is a “Overweight”. 21 analysts offering their recommendations for the stock have an average rating of 2.30, where 7 rate it as a Hold and 0 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Enphase Energy Inc. is expected to release its quarterly report on 05/04/2021 and quarterly earnings per share for the current quarter are estimated at $0.42 with sales reaching $292.04M over the same period.The EPS is expected to shrink by -22.90% this year, but quarterly earnings will post 73.00% year-over-year. Quarterly sales are estimated to grow 42.10% in year-over-year returns.

Enphase Energy Inc. (ENPH) Insider Activity

A total of 81 insider transactions have happened at Enphase Energy Inc. (ENPH) in the last six months, with sales accounting for 54 and purchases happening 27 times. The most recent transaction is an insider sale by Yang Mandy, the company’s Chief Accounting Officer. SEC filings show that Yang Mandy sold 5,757 shares of the company’s common stock on Feb 16 at a price of $204.43 per share for a total of $1.18 million. Following the sale, the insider now owns 0.12 million shares.

Enphase Energy Inc. disclosed in a document filed with the SEC on Dec 30 that Kothandaraman Badrinarayanan (President & CEO) sold a total of 30,000 shares of the company’s common stock. The trade occurred on Dec 30 and was made at $174.32 per share for $5.23 million. Following the transaction, the insider now directly holds 0.93 million shares of the ENPH stock.

Still, SEC filings show that on Dec 28, Branderiz Eric (EVP & Chief Financial Officer) disposed off 54,382 shares at an average price of $182.82 for $9.94 million. The insider now directly holds 229,189 shares of Enphase Energy Inc. (ENPH).

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Enphase Energy Inc. (ENPH): Who are the competitors?

The company’s main competitors (and peers) include SunPower Corporation (SPWR) that is trading 402.07% up over the past 12 months. ABB Ltd (ABB) is 24.14% up on the 1-year trading charts. Short interest in the company’s stock has fallen -33.87% from the last report on Dec 30, 2020 to stand at a total of 8.3 million short shares sold with a short interest ratio of 1.22.

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