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

824 institutions hold shares in Enphase Energy Inc. (ENPH), with 8.03M shares held by insiders accounting for 6.22% while institutional investors hold 78.36% of the company’s shares. The shares outstanding are 126.99M, and float is at 115.25M with Short Float at 3.68%. Institutions hold 73.48% 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 11.07% of the ENPH Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 11.09 million shares valued at $1.95 billion to account for 8.18% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 6.99 million shares representing 5.16% and valued at over $1.23 billion, while FMR, LLC holds 4.68% of the shares totaling 6.35 million with a market value of $1.11 billion.

Enphase Energy Inc. (NASDAQ: ENPH) is -14.51% lower on its value in year-to-date trading and has touched a low of $34.34 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 $145.79 in the last trading session, with the day’s gains setting it 4.22% off its average median price target of $225.00 for the next 12 months. It is also 43.18% off the consensus price target high of $264.00 offered by 22 analysts, but current levels are 10.17% higher than the price target low of $167.00 for the same period.

Currently trading at $150.01, the stock is -1.67% and -10.05% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.3 million and changing 2.89% at the moment leaves the stock 20.36% off its SMA200. ENPH registered 286.72% gain for a year compared to 6-month gain of 37.66%. The firm has a 50-day simple moving average (SMA 50) of $155.33 and a 200-day simple moving average (SMA200) of $152.53.

The stock witnessed a -8.43% loss in the last 1 month and extending the period to 3 months gives it a -28.17%, and is -0.89% 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 5.20% over the week and 6.48% over the month.

Enphase Energy Inc. (ENPH) has around 850 employees, a market worth around $19.77B and $774.40M in sales. Current P/E ratio is 167.24 and Fwd P/E is 54.25. Profit margin for the company is 17.30%. Distance from 52-week low is 336.84% and -34.50% 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”. 22 analysts offering their recommendations for the stock have an average rating of 2.20, where 7 rate it as a Hold and 0 think it is a “Overweight”. 15 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Enphase Energy Inc. is expected to release its quarterly report on 08/03/2021 and quarterly earnings per share for the current quarter are estimated at $0.44 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 73.60% 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 150 insider transactions have happened at Enphase Energy Inc. (ENPH) in the last six months, with sales accounting for 125 and purchases happening 25 times. The most recent transaction is an insider sale by Branderiz Eric, the company’s EVP & Chief Financial Officer. SEC filings show that Branderiz Eric sold 62,021 shares of the company’s common stock on Apr 05 at a price of $156.51 per share for a total of $9.71 million. Following the sale, the insider now owns 0.15 million shares.

Enphase Energy Inc. disclosed in a document filed with the SEC on Mar 30 that Kothandaraman Badrinarayanan (President & CEO) sold a total of 27,394 shares of the company’s common stock. The trade occurred on Mar 30 and was made at $146.31 per share for $4.01 million. Following the transaction, the insider now directly holds 0.89 million shares of the ENPH stock.

Still, SEC filings show that on Mar 10, Yang Mandy (Chief Accounting Officer) disposed off 7,652 shares at an average price of $159.72 for $1.22 million. The insider now directly holds 98,445 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 546.11% up over the past 12 months. ABB Ltd (ABB) is 95.20% up on the 1-year trading charts. Short interest in the company’s stock has risen 27.23% from the last report on Mar 30, 2021 to stand at a total of 4.25 million short shares sold with a short interest ratio of 1.15.

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