5 Best Climate Change Stocks To Invest In

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

Number of Hedge Fund Holders: 63

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the most popular climate change stocks among elite hedge funds and Wall Street analysts. Enphase Energy, Inc. (NASDAQ:ENPH) makes technologies and products for the solar and EV industry. Recently, Susquehanna Financial’s Biju Perincheril upgraded Enphase Energy, Inc. (NASDAQ:ENPH) to Positive from Neutral with a $275 price target. The investment firm likes Enphase Energy, Inc. (NASDAQ:ENPH) as it believes Enphase’s valuation has become attractive after a whopping 40% decline in December.

The analyst noted that Enphase Energy, Inc. (NASDAQ:ENPH)’s revenue more than doubled in fiscal year 2022, driven by growth in Europe.

At the end of the fourth quarter of 2022, 63 hedge funds tracked by Insider Monkey had stakes in Enphase Energy, Inc. (NASDAQ:ENPH).

ClearBridge Investments made the following comment about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2022 investor letter:

“In IT, Enphase Energy, Inc. (NASDAQ:ENPH) delivered a strong quarter driven by secular growth in global rooftop solar, increased penetration into Europe, where demand accelerated, and a continued ramp up in battery storage sales. Also with a strong presence in the U.S., Enphase Energy designs and manufactures microinverters for residential and small commercial solar PV systems and has made strides in evolving from a solar inverter maker into a “home energy management” company that can act as the brains for the home’s energy system, including microinverters for solar, as well as storage and energy management software.”