Enphase Energy Stock Is Tumbling Wednesday: Why Investors Are Selling Shares – Enphase Energy (NASDAQ:ENPH)

Enphase Energy Inc ENPH shares are falling Wednesday after the business reported worse-than-expected monetary outcomes for the very first quarter. Numerous experts likewise reduced rate targets following the print.

• Q1 Earnings: $356.1 million, versus price quotes of $361.43 million

• Q1 EPS: 68 cents, versus quote of 70 cents

Enphase stated U.S. profits reduced roughly 13% quarter-over-quarter due to seasonality and “softening” U.S. need. Earnings in Europe was up roughly 7% quarter-over-quarter, driven by greater battery sales. The solar business stated it delivered roughly 1.53 microinverters, representing 170.1 megawatt hours of IQ batteries in the quarter.

Enphase Energy produced $ 48.4 million in capital from operations and $33.8 million in complimentary capital throughout the quarter. Enphase ended the quarter with $1.53 billion in money, money equivalents, limited money and valuable securities.

Assistance: Enphase sees second-quarter profits in the series of $340 million to $380 million. The business assisted for second-quarter gross margin of 42% to 45%, or 44% to 47% on an adjusted basis. The gross margin projection consists of roughly 2 portion points of brand-new tariff effects.

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Expert Modifications:

• Susquehanna expert Biju Perincheril preserved Enphase with a Neutral and reduced the rate target from $ 59 to $ 51.

• BMO Capital expert Ameet Thakkar preserved Enphase with a Market Perform and reduced the rate target from $ 59 to $ 46.

• Goldman Sachs expert Brian Lee preserved Enphase with a Buy and reduced the rate target from $ 90 to $ 77.

• Piper Sandler expert Kashy Harrison preserved Enphase with a Neutral and reduced the rate target from $ 47 to $ 42.

• RBC Capital expert Christopher Dendrinos repeated Enphase with a Sector Perform and reduced the rate target from $ 59 to $ 54.

ENPH Rate Action: Enphase Energy shares were down 15.7% at $45.05 at the time of publication Wednesday, per Benzinga Pro. Enphase shares are now down roughly 33% year-to-date and are nearing five-year lows.

Image: AlyoshinE/Shutterstock.