Enphase Energy Inc. (ENPH) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the technology sector halfway through the trading day. At the lunch break, shares of ENPH have fallen 25.75% to $1.24 after closing the day prior at $1.67. So far, the stock has traded as high as $1.26 and as low as $1.16. Today’s decline has come with about 5.74 million shares changing hands, compared to an average 30-day volume of 248,362 for Enphase Energy Inc.. The price is currently below the 30-day volume weighted average price of $1.21 for ENPH.
The share depreciation gives the company a market capitalization of $78.06 million based upon 46.74 million shares outstanding. It also means that ENPH has a price-to-book ratio of 6.27:1.
In the past 52 weeks, shares of ENPH have traded as low as $1.28 and as high as $5.3699. Technical traders will take note that at $1.24, shares of ENPH are trading below their 200-day MA at $2.24 and below their 50-day MA at $1.8. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is ENPH?
Enphase Energy Inc delivers microinverter technology for solar industry that increases energy production, simplifies design and installation, improves system, reduces fire safety risk & provides a platform for intelligent energy management. The company’s 543 employees are led by CEO Paul B. Nahi from the corporate headquarters at 1420 N. McDowell Boulevard in Petaluma, CA.
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