Enphase Energy, Inc. (NASDAQ:ENPH) shares are trading lower Thursday. The stock is down 53.70% year-to-date.
What To Know: Enphase’s drop Thursday follows a particularly rough month for solar-related stocks. In early August, shares of solar stocks were trading lower following weak third-quarter guidance from SolarEdge, with revenues estimated between $880 million and $920 million, versus the consensus estimate of $1.05 billion.
At the end of July, Enphase also issued weak third-quarter revenue guidance between $550 million and $600 million, versus the consensus estimate of $748.08 million.
Prior to that, shares of solar stocks traded lower in sympathy with Sunpower, which reported weak preliminary second-quarter results.
More recently, Keybanc analyst Sophie Karp maintained Enphase Energy with a Overweight and lowered the price target from $267 to $200.
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ENPH Price Action: Shares of ENPH were down 5.93% at $122.63 at the time of publication, according to Benzinga Pro.
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