Time to Buy Enphase Energy, Inc. (ENPH) After The Completion of This Bullish Double Top Pattern?

April 25, 2018 - By Henry Gaston

Enphase Energy, Inc. (NASDAQ:ENPH) Logo

Investors sentiment increased to 3.17 in Q4 2017. Its up 2.37, from 0.8 in 2017Q3. It improved, as 3 investors sold Enphase Energy, Inc. shares while 9 reduced holdings. 28 funds opened positions while 10 raised stakes. 33.84 million shares or 151.70% more from 13.44 million shares in 2017Q3 were reported.
Gilder Gagnon Howe & Co Limited Company invested 0.06% in Enphase Energy, Inc. (NASDAQ:ENPH). Alpine Limited Liability Company holds 0.03% or 54,822 shares. San Francisco Sentry Inv Group (Ca) reported 2,500 shares. White Pine Cap Lc reported 21,000 shares. Vanguard Group reported 2.41M shares. Tower Capital (Trc) has 8,028 shares. Emerald Mutual Fund Advisers Trust holds 0.03% or 268,600 shares. 57,694 were accumulated by Kbc Gp Nv. Blackrock owns 732,297 shares. Eam holds 0.27% of its portfolio in Enphase Energy, Inc. (NASDAQ:ENPH) for 865,546 shares. Grp One Trading Lp invested in 18,500 shares. Brown Advisory stated it has 20,299 shares or 0% of all its holdings. Bridgeway Mgmt owns 340,200 shares. Raymond James Financial Service Advsrs invested in 16,480 shares or 0% of the stock. Engineers Gate Manager Lp, New York-based fund reported 101,165 shares.

Since February 15, 2018, it had 1 buy, and 2 insider sales for $212,757 activity. Another trade for 16,375 shares valued at $45,031 was made by Garcia Humberto on Thursday, February 15. Kothandaraman Badrinarayanan had bought 40,000 shares worth $132,800 on Thursday, March 1.

The chart of Enphase Energy, Inc. (ENPH) shows a double top with $4.77 target or 6.00 % above today’s $4.50 share price. The 7 months chart pattern indicates low risk for the $431.23M company. It was reported on Apr, 25 by Finviz.com. If the $4.77 price target is reached, the company will be worth $25.87 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.90% or $0.04 during the last trading session, reaching $4.5. About 745,286 shares traded. Enphase Energy, Inc. (NASDAQ:ENPH) has risen 309.68% since April 25, 2017 and is uptrending. It has outperformed by 298.13% the S&P500.

Analysts await Enphase Energy, Inc. (NASDAQ:ENPH) to report earnings on May, 8. They expect $-0.05 earnings per share, up 76.19 % or $0.16 from last year’s $-0.21 per share. After $-0.03 actual earnings per share reported by Enphase Energy, Inc. for the previous quarter, Wall Street now forecasts 66.67 % negative EPS growth.

Enphase Energy, Inc. (NASDAQ:ENPH) Ratings Coverage

Among 5 analysts covering Enphase Energy (NASDAQ:ENPH), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Enphase Energy had 10 analyst reports since November 3, 2017 according to SRatingsIntel. On Monday, April 16 the stock rating was maintained by Roth Capital with “Buy”. Roth Capital maintained Enphase Energy, Inc. (NASDAQ:ENPH) on Friday, November 3 with “Hold” rating. As per Wednesday, April 4, the company rating was maintained by Roth Capital. Roth Capital maintained the stock with “Buy” rating in Thursday, March 22 report. The stock has “Hold” rating by Roth Capital on Friday, February 23. As per Tuesday, April 24, the company rating was maintained by Cowen & Co. The rating was upgraded by Roth Capital on Wednesday, February 28 to “Buy”. The stock of Enphase Energy, Inc. (NASDAQ:ENPH) has “Buy” rating given on Monday, March 26 by FBR Capital. Craig Hallum maintained Enphase Energy, Inc. (NASDAQ:ENPH) on Monday, November 20 with “Buy” rating.

Enphase Energy, Inc. (NASDAQ:ENPH) Institutional Positions Chart

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