Top 5 Stock Picks of Philip Best’s Quaero Capital

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

Quaero Capital’s Stake Value: $7.5 million

Percentage of Quaero Capital’s 13F Portfolio: 5.19%

Number of Hedge Fund Holders: 44

Enphase Energy, Inc. (NASDAQ:ENPH), the seller of home energy solutions for the solar photovoltaic industry, is benefiting from the drive towards clean energy. This is also reflected in its share price rally of close to 100% in the last twelve months. Its third-quarter revenue doubled year over year to a quarterly record of $351.5 million, with expectations for $390-$410 million in revenues for the December quarter. 

ClearBridge Investments, an investment management firm, mentioned Enphase Energy in the second quarter investor letter. Here is what ClearBridge Investments stated:

“Also in the solar space, we initiated a position in Enphase Energy (classified in the IT sector), which designs and manufactures microinverters for residential and small commercial solar photovoltaic (PV) systems. Enphase was the first company to commercialize microinverters for residential and small commercial solar PV systems. A microinverter, a type of MLPE, is a small inverter placed directly on the back of each solar module, as opposed to the traditional system of one string inverter on the side of the building.”