Enphase (ENPH) Stock Down Signficantly After Jim Cramer Advised Selling It

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the 20 Stocks Jim Cramer Wanted You To Sell & Immediately Get Out Of.

Enphase Energy, Inc. (NASDAQ:ENPH) is a solar power technology company that manufactures products such as microinverters. Its shares are down by 36% over the past year and by 7.4% year-to-date. Since Cramer discussed the firm on April 2nd, the shares are down by 43%. Regulatory developments in the renewable energy sector appear to be responsible for some of the weakness. For instance, Enphase Energy, Inc. (NASDAQ:ENPH)’s stock closed 24% lower on June 17th, a day after a draft bill for the US Senate on the 16th suggested that a full phase-out of solar and wind energy credits would be in play by 2028. Then, the shares closed 14% lower on July 23rd. On the 22nd, Enphase Energy, Inc. (NASDAQ:ENPH) had reported its earnings for the second quarter and guided third-quarter revenue to range between $330 million and $370 million. The midpoint of the guidance fell below analyst estimates. Here is what Cramer had said about the firm on April 2nd:

“No. Sell out and buy Capital One. There will be no good news in Enphase because you know why? It’s not a company that the president wants to see do well. It means nothing to him, nothing.”

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