Enphase Plunges 16% to Six-Year Low as Oppenheimer, Roth Downgrade After Q3 Miss
ENPH is trading near its 52-week low of $23.83 (4.3% above the low) on elevated volume (4.9× avg).
Summary
Enphase fell 16.3% Wednesday to its lowest level in six years after the Q3 miss and weak Q4 revenue guide disclosed in Tuesday's 8-K, which put revenue at $293.3M and guided Q4 to $225M-$255M. Oppenheimer's Colin Rusch cut the stock to Perform from Outperform, citing soft U.S. solar installations, higher rates and unproven demand elasticity from price cuts. Roth Capital's Philip Shen went to Neutral from Buy and slashed his target to $30 from $55, warning 2027 could be another down year for U.S. residential solar given rate pressure and uncertainty over Treasury FEOC/PFE guidance. Morgan Stanley kept Underweight and cut its target to $16 from $24; Goldman, J.P. Morgan and Wells Fargo also trimmed targets. The bear case now centers on storage price cuts eroding gross margin into the 30s% from the 40s%, with William Blair alone arguing the stock is near a bottom.
At the time of this announcement, ENPH was trading at $24.85 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $23.83 to $73.74. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.