10 Worst Performing Solar Stocks to Buy Now

3. Enphase Energy Inc. (NASDAQ:ENPH)

6-Month Performance as of February 27: -48.00%

Number of Hedge Fund Holders: 39

Enphase Energy Inc. (NASDAQ:ENPH) designs, develops, manufactures, and sells home energy solutions for the solar PV industry globally. It specializes in microinverter technology that converts solar energy at the module level, complemented by battery storage, energy monitoring, EV charging, and related software and services. It sells through distributors, installers, and directly to homeowners.

Its core business is microinverters and batteries for solar energy. In Q4 2024, it generated $382.7 million in revenue, shipping 2 million microinverters and 152 megawatt-hours of batteries. It prioritizes US manufacturing and shipped 1.7 million microinverters from US facilities and introduced higher domestic content products. US revenue increased 6% in Q4, driven by 11% microinverter sales growth. The company is expanding globally by introducing new products in Europe and Asia, and entering the Japanese market.

It’s also developing new technologies, like the IQ9 microinverter, and enhancing its Solargraf software. The IQ9 microinverter uses advanced technology for increased solar power output and efficiency, while Solargraf software simplifies solar system design and proposals for installers. Enphase Energy Inc. (NASDAQ:ENPH) is reducing operating expenses and aims for $75-80 million per quarter by Q2 2025. Q1 2025 revenue guidance is $340-380 million, including $50 million from safe harbor sales.