What Happened?
Shares of home energy technology company Enphase (NASDAQ: ENPH) fell 1.4% in the afternoon session after the major indices continued to retreat (Nasdaq -1.5%, S&P 500 -1.2%) amid profit-taking and renewed concerns about tariffs.
Investors reacted to a federal court ruling that most of President Trump's global tariffs were illegal, raising uncertainty over trade policy and the fiscal impact of potential refunds. Rising Treasury yields added to the pressure, with the 10-year climbing above 4.2% and the 30-year nearing 5%, intensifying worries about stretched equity valuations. September's historically weak track record for stocks further dampened sentiment, leaving traders cautious ahead of the jobs report later in the week and the Federal Reserve's upcoming rate decision.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Enphase? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Enphase’s shares are extremely volatile and have had 46 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 3.5% on the news that Jefferies upgraded the stock to Hold from Underperform and raised its price target to $36 from $28. The upgrade provided a direct boost to the solar technology company's shares. The positive move was also supported by a backdrop of favorable news for the broader solar and renewable energy sector. Reports indicated that India installed 14.3GW of new utility-scale solar capacity in the first half of 2025, a 49% increase year-on-year. In the U.S., New Jersey's governor signed new legislation aimed at increasing energy storage and community solar projects. Additionally, fellow solar company FTC Solar announced a significant 1GW tracker supply agreement, signaling robust industry demand.
Enphase is down 48.4% since the beginning of the year, and at $36.82 per share, it is trading 69.3% below its 52-week high of $119.74 from September 2024. Investors who bought $1,000 worth of Enphase’s shares 5 years ago would now be looking at an investment worth $478.06.
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