5 Best Falling Stocks To Buy Now

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

6-month Decline as of March 14: 31.77%

Number of Hedge Fund Holders: 63

At the close of the fourth quarter of 2022, Enphase Energy, Inc. (NASDAQ:ENPH) was spotted on 63 investors’ portfolios that held positions worth $2.21 billion in the company. This is compared to 59 hedge funds in the previous quarter with stakes worth $2.20 billion. Of those, Two Sigma Advisors was the top shareholder and disclosed a position worth $354.4 million in the company.

On March 9, Citi analyst Vikram Bagri raised his price target on Enphase Energy, Inc. (NASDAQ:ENPH) to $285 from $205 and reiterated a Buy rating on the shares. Though Enphase Energy, Inc. (NASDAQ:ENPH) has fallen by 31.77% over the past 6 months, Wall Street is bullish on the stock. Enphase Energy, Inc. (NASDAQ:ENPH) is one of the best falling stocks to buy now according to analysts.

Here is what ClearBridge Investments had to say 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.”