High-rolling investors have positioned themselves bullish on Enphase Energy ENPH, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ENPH often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 16 options trades for Enphase Energy. This is not a typical pattern.
The sentiment among these major traders is split, with 43% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $25,200, and 15 calls, totaling $898,349.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $125.0 for Enphase Energy over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Enphase Energy stands at 493.5, with a total volume reaching 28,022.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Enphase Energy, situated within the strike price corridor from $75.0 to $125.0, throughout the last 30 days.
Enphase Energy Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENPH | CALL | SWEEP | BULLISH | 06/07/24 | $4.9 | $4.8 | $4.85 | $120.00 | $317.9K | 225 | 173 |
| ENPH | CALL | TRADE | BEARISH | 06/20/25 | $40.95 | $39.5 | $39.5 | $100.00 | $71.1K | 66 | 33 |
| ENPH | CALL | SWEEP | NEUTRAL | 06/21/24 | $6.75 | $6.7 | $6.75 | $118.00 | $68.8K | 49 | 142 |
| ENPH | CALL | SWEEP | BEARISH | 05/24/24 | $1.57 | $1.56 | $1.56 | $119.00 | $53.6K | 407 | 4.9K |
| ENPH | CALL | TRADE | BULLISH | 05/24/24 | $17.0 | $15.95 | $17.0 | $100.00 | $51.0K | 20 | 32 |
About Enphase Energy
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
After a thorough review of the options trading surrounding Enphase Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Enphase Energy Standing Right Now?
- Currently trading with a volume of 2,558,520, the ENPH's price is up by 7.26%, now at $119.59.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 64 days.
Professional Analyst Ratings for Enphase Energy
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $122.4.
- An analyst from Guggenheim has revised its rating downward to Sell, adjusting the price target to $92.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Enphase Energy with a target price of $130.
- An analyst from Mizuho has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $147.
- An analyst from BMO Capital persists with their Market Perform rating on Enphase Energy, maintaining a target price of $113.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Enphase Energy, targeting a price of $130.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Enphase Energy options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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