Enphase Energy (ENPH, $154.95) and SolarEdge (SEDG, $280.94) got rating upgrades at Susquehanna
Shares of solar energy companies Enphase Energy and SolarEdge got rating upgrades from analysts at Susquehanna.
Susquehanna analysts boosted their rating on the shares to positive from neutral. Analyst Biju Perincheril said he expects U.S. solar capacity to increase by about 25 gigawatts over the next five years, an upward revision of 1 gigawatt from his January forecast, according to Bloomberg.
However, earlier in the week, California’s three biggest utilities proposed changes in the state’s solar program that would lead to higher connection charges and lower rebates for homeowners’ new solar panel installations. According to the utilities, this proposed rule intends to mitigate “unfair and growing inequity” in state policy that has non-solar customers paying about $3 billion more a year for electricity to subsidize solar customers, Bloomberg reports.
Bernadette Del Chiaro, executive director of the California Solar and Storage Association, responded, “California is a solar state, but the utilities want to own the sun and keep it out of the hands of everyday people”.
ENPH in -4.78% downward trend, sliding for three consecutive days on December 31, 2024
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where ENPH declined for three days, in of 287 cases, the price declined further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 60 cases where ENPH's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on January 08, 2025. You may want to consider selling the stock, shorting the stock, or exploring put options on ENPH as a result. In of 70 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
ENPH moved below its 50-day moving average on January 08, 2025 date and that indicates a change from an upward trend to a downward trend.
Bullish Trend Analysis
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ENPH advanced for three days, in of 332 cases, the price rose further within the following month. The odds of a continued upward trend are .
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The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
