$ENPH Double Bottom?

17 Feb 2023

ENPH got beaten up after earnings I suspect the reason is that one of solar’s biggest markets, California, is changing how it pays for excess solar generation or commonly called “NEM Charges.” In a nut shell it stretches out the payback period from 5 years to 9 years (Assuming you buy the system) so what will that do for demand? ( That was finalized by CA PUC in December 2022 - about the time of the start of the decline in stock)

Without getting into a long discussion on this news, I think that this is now priced into the stock and it “may” be free to run higher. See notes on chart. Ideas, not investing / trading advice.

From earningswhispers.com
Enphase Energy Beats
Enphase Energy ( ENPH ) reported Quarter December 2022 earnings of $1.44 per share on revenue of $724.7 million. The consensus earnings estimate was $1.23 per share on revenue of $694.8 million. The Earnings Whisper number was $1.29 per share. Revenue grew 75.6% on a year-over-year basis.

The company said it expects first quarter revenue of $700.0 million to $740.0 million. The current consensus revenue estimate is $670.67 million for the quarter ending March 31, 2023.

Enphase Energy Inc delivers microinverter technology for solar industry that increases energy production, simplifies design and installation, improves system, reduces fire safety risk & provides a platform for intelligent energy management.

22 Feb 2023

Dagangan ditutup: hentian tercapai

Back to the watch list... not looking good for a long right now.