Will Enphase Energy Inc (NASDAQ: ENPH) Stock Boom Or Bust From Here?

During the last session, Enphase Energy Inc (NASDAQ:ENPH)’s traded shares were 2.91 million, with the beta value of the company hitting 1.47. At the end of the trading day, the stock’s price was $118.60, reflecting an intraday gain of 4.45% or $5.05. The 52-week high for the ENPH share is $231.42, that puts it down -95.13 from that peak though still a striking 38.04% gain since the share price plummeted to a 52-week low of $73.49. The company’s market capitalization is $16.10B, and the average intraday trading volume over the past 10 days was 2.97 million shares, and the average trade volume was 4.17 million shares over the past three months.

Enphase Energy Inc (NASDAQ:ENPH) trade information

Enphase Energy Inc (ENPH) registered a 4.45% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.45% in intraday trading to $118.60, hitting a weekly high. The stock’s 5-day price performance is 8.46%, and it has moved by -4.33% in 30 days. Based on these gigs, the overall price performance for the year is -43.60%. The short interest in Enphase Energy Inc (NASDAQ:ENPH) is 10.02 million shares and it means that shorts have 2.8 day(s) to cover.

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Enphase Energy Inc (ENPH) estimates and forecasts

Statistics show that Enphase Energy Inc has underperformed its competitors in share price, compared to the industry in which it operates. Enphase Energy Inc (ENPH) shares have gone up 1.51% during the last six months, with a year-to-date growth rate less than the industry average at -23.81% against 3.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -70.10% this quarter and then drop -56.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -29.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $283.97 million as predicted by 28 analyst(s). Meanwhile, a consensus of 28 analyst(s) estimates revenue growth to $356.12 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $726.02 million and $711.12 million respectively. In this case, analysts expect current quarter sales to shrink by -60.90% and then drop by -49.90% in the coming quarter.

While earnings are projected to return -23.64% in 2024, the next five years will return 14.80% per annum.

ENPH Dividends

Enphase Energy Inc is due to release its next quarterly earnings between April 23 and April 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Enphase Energy Inc insiders own 2.09% of total outstanding shares while institutional holders control 80.41%, with the float percentage being 82.13%. Vanguard Group Inc is the largest shareholder of the company, while 1,201 institutions own stock in it. As of Jun 29, 2023, the company held over 15.98 million shares (or 11.72% of all shares), a total value of $2.68 billion in shares.

The next largest institutional holding, with 14.2 million shares, is of Blackrock Inc.’s that is approximately 10.42% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $2.38 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Enphase Energy Inc (ENPH) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 4.29 million shares. This amounts to just over 3.14 percent of the company’s overall shares, with a $717.85 million market value. The same data shows that the other fund manager holds slightly less at 3.26 million, or about 2.39% of the stock, which is worth about $546.51 million.