In today’s recent session, 3,547,130 shares of the Enphase Energy, Inc.(NASDAQ:ENPH) have been traded, and its beta is 1.18. Most recently the company’s share price was $162.31, and it changed around -$5.55 or -0.03% from the last close, which brings the market valuation of the company to $21.01 Billion. ENPH at last check was trading at a discount to its 52-week high of $229.04, offering almost -41.11% off that amount. The share price’s 52-week low was $21.49, which indicates that the recent value has risen by an impressive 86.76% since then. We note from Enphase Energy, Inc.’s average daily trading volume that its 10-day average is 3.49 Million shares, with the 3-month average coming to 3.69 Million.
Enphase Energy, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.3. If we narrow it down even further, the data shows that 1 out of 21 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 7 recommended ENPH as a Hold, whereas 13 deemed it a Buy, and no one rated it as Underweight. Enphase Energy, Inc. is expected to report earnings per share of $0.42 for the current quarter.
Enphase Energy, Inc. (NASDAQ:ENPH): Trading Information Today
Although ENPH has been showing red trend so far today with a performance of -3.31% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $194.9 on Friday, Feb 19 increased the stock’s daily price by 13.74%. The company’s shares are currently down -0.04% year-to-date, but still down -0.131 over the last five days. On the other hand, Enphase Energy, Inc. (NASDAQ:ENPH) is -0.21% down in the 30-day period. We can see from the shorts that 6.2 Million shares have been sold at a short interest cover period of 1.68 day(s).
The consensus price target as assigned by Wall Street analysts is $225.59, which translates to bears needing to increase their stock price by 38.99% from its current value. Analyst projections state that ENPH is forecast to be at a low of $167 and a high of $266. In order for the stock price to hit the forecast high, the stock would need to surge +63.88% from its current level, while the stock would need to crash 2.89% from its current level to reach the projected low.
Enphase Energy, Inc. (ENPH) projections and forecasts
Enphase Energy, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +129.66 percent over the past six months and at a 42.34% annual growth rate that is well above the industry average of 19.5%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +10.5% in revenue this quarter, and will report an increase of 176.5% in the next quarter. The year-over-year growth rate is expected to be 73%, up from the previous year.
Consensus estimates provided by 19 financial analysts predict the company will bring in an average of $292.04 Million in revenue for the current quarter. 19 analysts expect Enphase Energy, Inc. to make $319.12 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $205.54 Million and $125.54 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 42.1%. Forecasts for the next quarter put sales growth at 154.2%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 31.3%. Enphase Energy, Inc. earnings are expected to decrease by -22.9% in 2021, but the outlook is positive 37.7% per year for the next five years.
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Enphase Energy, Inc. (NASDAQ:ENPH)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 8.8% of Enphase Energy, Inc. shares, and 77.62% of them are in the hands of institutional investors. The stock currently has a share float of 85.11%. Enphase Energy, Inc. stock is held by 567 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 11.63% of the shares, which is about 15.01 Million shares worth $2.63 Billion.
Vanguard Group, Inc. (The), with 8.6% or 11.09 Million shares worth $1.95 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 3296601 shares worth $578.45 Million, making up 2.56% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.18 Million shares worth around $262.71 Million, which represents about 2.47% of the total shares outstanding.