Enphase Energy Inc (NASDAQ: ENPH): Performance Review And Forecast

In the last trading session, 2.96 million shares of the Enphase Energy Inc (NASDAQ:ENPH) were traded, and its beta was 1.46. Most recently the company’s share price was $120.98, and it changed around $1.18 or 0.98% from the last close, which brings the market valuation of the company to $16.42B. ENPH currently trades at a discount to its 52-week high of $231.42, offering almost -91.29% off that amount. The share price’s 52-week low was $73.49, which indicates that the current value has risen by an impressive 39.25% since then. We note from Enphase Energy Inc’s average daily trading volume that its 10-day average is 3.28 million shares, with the 3-month average coming to 4.18 million.

Enphase Energy Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.02. If we narrow it down even further, the data shows that 1 out of 40 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 16 recommended ENPH as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. Enphase Energy Inc is expected to report earnings per share of $0.41 for the current quarter.

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Enphase Energy Inc (NASDAQ:ENPH) trade information

Instantly ENPH has showed a green trend with a performance of 0.98% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -8.45% year-to-date, but still up 4.85% over the last five days. On the other hand, Enphase Energy Inc (NASDAQ:ENPH) is 1.58% up in the 30-day period. We can see from the shorts that 10.02 million shares have been sold at a short interest cover period of 2.8 day(s).

The consensus price target as assigned by Wall Street analysts is $233.2, which translates to bulls needing to increase their stock price by 48.12% from its current value. Analyst projections state that ENPH is forecast to be at a low of $131 and a high of $350.

Enphase Energy Inc (ENPH) estimates and forecasts

Enphase Energy Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 0.72 percent over the past six months and at a -23.81% annual growth rate that is well below the industry average of 8.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -70.10% in revenue this quarter, and will report a decrease of -56.50% in the next quarter. The year-over-year growth rate is expected to be -29.70%, down from the previous year.

Consensus estimates provided by 28 financial analysts predict the company will bring in an average of $283.97 million in revenue for the current quarter. 28 analysts expect Enphase Energy Inc to make $356.12 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $726.02 million and $711.12 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -60.90%. Forecasts for the next quarter put sales growth at -49.90%.

Enphase Energy Inc earnings are expected to increase by -23.67% in 2024, but the outlook is positive 14.80% per year for the next five years.

ENPH Dividends

Enphase Energy Inc’s next quarterly earnings report is expected to be released around April 23 and April 29.

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

Upon looking at major shareholders, it appears that insiders hold 2.09% of Enphase Energy Inc shares, and 80.41% of them are in the hands of institutional investors. The stock currently has a share float of 82.13%. Enphase Energy Inc stock is held by 1,201 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 11.52% of the shares, which is about 15.64 million shares worth $1.89 billion.

Blackrock Inc., with 10.58% or 14.36 million shares worth $1.74 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 4.06 million shares worth $490.95 million, making up 2.99% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 3.34 million shares worth around $403.53 million, which represents about 2.46% of the total shares outstanding.