Enphase Energy Inc (NASDAQ:ENPH) shares traded 12.80% higher at $116.91 on Wall Street last session.
ENPH stock price is now 1.64% away from the 50-day moving average and 3.99% away from the 200-day moving average. The market capitalization of the company currently stands at $15.91B.
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With the price target reduced from $150 to $140, Canaccord Genuity maintained Buy rating for Enphase Energy Inc (NASDAQ: ENPH). On June 10, 2024, HSBC Securities Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $166, while ‘Barclays’ rates the stock as ‘Overweight’
In other news, RANHOFF DAVID A, EVP & Chief Commercial Officer sold 5,000 shares of the company’s stock on Jun 17 ’24. The stock was sold for $616,348 at an average price of $123.27. Upon completion of the transaction, the EVP & Chief Commercial Officer now directly owns 107,943 shares in the company, valued at $12.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 30 ’24, Director Rodgers Thurman J sold 5,188 shares of the business’s stock. A total of $672,346 was realized by selling the stock at an average price of $129.60. This leaves the insider owning 1,979,374 shares of the company worth $231.41 million. A total of 3.66% of the company’s stock is owned by insiders.
During the past 12 months, Enphase Energy Inc has had a low of $73.49 and a high of $182.26. As of last week, the company has a debt-to-equity ratio of 1.49, a current ratio of 4.23, and a quick ratio of 3.90. According to the stock market information, the enterprise value for the company is $15483824128, which is based on a 127.77 price-to-earnings ratio, a 8.49 price-to-earnings-growth ratio, and a beta of 1.70. The fifty day moving average price for ENPH is $115.1998 and a two-hundred day moving average price translates $112.4289 for the stock.
The latest earnings results from Enphase Energy Inc (NASDAQ: ENPH) was released for 2024-06-30. The net profit margin was 9.12% and return on equity was 13.96% for ENPH. The company reported revenue of $303.46 million for the quarter, compared to $711.12 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -57.33 percent.
