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Enphase Energy Inc (NASDAQ:ENPH) At $116.88: What To Do?

In last trading session, Enphase Energy Inc (NASDAQ:ENPH) saw 7.15 million shares changing hands with its beta currently measuring 1.45. Company’s recent per share price level of $116.88 trading at -$0.63 or -0.54% at ring of the bell on the day assigns it a market valuation of $15.96B. That closing price of ENPH’s stock is at a discount of -111.33% from its 52-week high price of $247.00 and is indicating a premium of 37.12% from its 52-week low price of $73.49. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.7 million shares which gives us an average trading volume of 5.08 million if we extend that period to 3-months.

Enphase Energy Inc (NASDAQ:ENPH) trade information

Upright in the red during last session for losing -0.54%, in the last five days ENPH remained trading in the green while hitting it’s week-highest on Wednesday, 02/07/24 when the stock touched $116.88 price level, adding 5.82% to its value on the day. Enphase Energy Inc’s shares saw a change of -11.55% in year-to-date performance and have moved 10.85% in past 5-day. Enphase Energy Inc (NASDAQ:ENPH) showed a performance of -0.15% in past 30-days. Number of shares sold short was 9.4 million shares which calculate 1.65 days to cover the short interests.

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Enphase Energy Inc (ENPH) estimates and forecasts

Statistics highlight that Enphase Energy Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -15.59% of value to its shares in past 6 months, showing an annual growth rate of -15.65% while that of industry is 8.80. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -69.30% in the current quarter and calculating -55.10% decrease in the next quarter. This year revenue growth is estimated to fall -25.70% from the last financial year’s standing.

27 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $289.99 million for the same. And 27 analysts are in estimates of company making revenue of $366.71 million in the next quarter that will end on Jun 2024. Company posted $726.02 million and $711.12 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -60.10% while estimating it to be -48.40% for the next quarter.

ENPH Dividends

Enphase Energy Inc is more likely to be releasing its next quarterly report between April 23 and April 29 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Enphase Energy Inc (NASDAQ:ENPH)’s Major holders

Insiders are in possession of 3.08% of company’s total shares while institution are holding 81.75 percent of that, with stock having share float percentage of 84.35%. Investors also watch the number of corporate investors in a company very closely, which is 81.75% institutions for Enphase Energy Inc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at ENPH for having 15.98 million shares of worth $2.68 billion. And as of Jun 29, 2023, it was holding 11.72% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 14.2 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 10.42% of outstanding shares, having a total worth of $2.38 billion.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 4.29 million shares of worth $717.85 million or 3.14% of the total outstanding shares. The later fund manager was in possession of 3.26 million shares on Jun 29, 2023, making its stake of worth around $546.51 million in the company or a holder of 2.39% of company’s stock.

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