#6 - Enphase Energy (NASDAQ:ENPH)
Enphase Energy (NASDAQ: ENPH) offers a different way to play the solar sector. The company is the world’s leading supplier of photovoltaic solar home energy solutions. As part of the renewable energy bubble of late 2020, ENPH stock soared over 100% between Election Day and the middle of January.
The stock is down about 10% since then but has rallied 4% since delivering strong quarterly earnings in July. For the quarter the company beat on both the top and bottom lines. Enphase’s quarterly revenue of $311.23 million was 5% higher than the prior quarter and approximately 150% higher than the same quarter in 2020. And the company told analysts that it was forecasting a 9% sequential increase in revenue for the next quarter.
In addition to the opportunity that exists within the United States, investors can be excited about the company’s first expansion into an international market. Enphase launched its Encharge battery storage system in June which is serving as an additional catalyst for the stock.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
Read More - Current Price
- $71.45
- Consensus Rating
- Hold
- Ratings Breakdown
- 14 Buy Ratings, 15 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $100.33 (40.4% Upside)
