Why Is Enphase Energy Stock Getting Obliterated?
Portfolio Pulse from Henry Khederian
Enphase Energy, Inc. (NASDAQ:ENPH) shares dropped by 12.8% after the company issued weak Q4 guidance and received several analyst rating updates. The company reported Q3 earnings per share of $1.02, missing the estimated $1.03, and revenue of $551.1 million, falling short of the $566.02 million estimate. The disappointing results were attributed to high inventory levels and reduced demand in key European markets. The company expects Q4 revenue to range from $300 million to $350 million, below the estimated $601.24 million. Higher yields on safer investments like Treasury bonds may also be attracting investors away from riskier growth stocks like Enphase.
October 27, 2023 | 2:55 pm
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Enphase Energy's stock price dropped due to weak Q4 guidance and disappointing Q3 results. The company's high inventory levels and reduced demand in Europe are negatively impacting its performance. Higher yields on safer investments may also be attracting investors away from Enphase.
Enphase Energy's weak Q4 guidance and disappointing Q3 results have negatively impacted its stock price. The company's high inventory levels and reduced demand in key European markets are likely contributing to this decline. Additionally, higher yields on safer investments like Treasury bonds may be attracting investors away from riskier growth stocks like Enphase, further driving down its stock price.
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