#5 - Enphase Energy (NASDAQ:ENPH)
Many analysts expect solar stocks to be a big winner as the Biden administration prioritizes clean energy technology in its budget. There are many solid options for investors. However, I think that Enphase Energy Inc. (NASDAQ: ENPH) has a story that’s worth studying.
Enphase doesn’t manufacture or install solar panels, but they impact the solar space in a significant way. The company’s IQ8 microinverters address a key limitation that solar panel owners face. That is, what happens at night or on cloudy days.
The answer comes from the microinverter that converts direct current (DC) power from solar panels to alternating current (AC) power. The microinverters also reduce the risk of a single-point failure. Enphase also offers a home solar battery storage solution and it’s even offering EV chargers.
Like many stocks in this sector, ENPH stock is down significantly from its 52-week high (which was also the all-time high). However, with the company just reporting strong revenue and earnings number, investors may be getting a nice second chance to generate significant profits from Enphase Energy.
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.
More about Enphase Energy- Current Price
- $41.18
- Consensus Rating
- Hold
- Ratings Breakdown
- 12 Buy Ratings, 10 Hold Ratings, 11 Sell Ratings.
- Consensus Price Target
- $68.31 (65.9% Upside)
