5 Best Clean Energy Stocks To Buy Today

3. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 50

Enphase Energy, Inc. (NASDAQ:ENPH) was recently upgraded to Buy from Hold by Craig-Hallum analyst Eric Stine after delivering strong fourth-quarter results and announcing its Q1 2022 guidance. The California-based solar company reported a Q4 GAAP net income of $52.6 million or $0.37 EPS. Enphase Energy, Inc.’s (NASDAQ:ENPH) total revenue in the fourth quarter was $413 million, an increase from $265 million in Q4 2020, which brings full-year revenue to $1.38 billion. Eric Stine kept a $241 price target for the stock. 

The continued strong demand for Enphase Energy, Inc.’s (NASDAQ:ENPH) microinverters was one of the factors that drove revenue in the quarter. In the fourth quarter, the company shipped 3,033,891 microinverters and 100.2 megawatt-hours of Enphase IQ Batteries.

The number of hedge funds tracked by Insider Monkey holding stakes in Enphase Energy, Inc. (NASDAQ:ENPH) totaled 50 in Q4 2021, compared to 52 in the preceding quarter. These stakes hold a value of over $763 million.