Enphase hits six-year low after weak Q3 report and two analyst downgrades
Enphase Energy shares fell 16.3% after third-quarter results and a weak fourth-quarter outlook, with Oppenheimer and Roth cutting ratings, per Seeking Alpha.
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what happened
Enphase Energy shares dropped 16.3% on Wednesday, hitting their lowest level in six years after the company reported third-quarter results and guided fourth-quarter revenue lower. Seeking Alpha reported the move.
Oppenheimer and Roth both downgraded the stock. Colin Rusch moved Enphase to Perform from Outperform at Oppenheimer, while Philip Shen cut Roth's rating to Neutral from Buy and lowered his price target to $30 from $55. Goldman Sachs, J.P. Morgan and Wells Fargo also revised their targets. Morgan Stanley kept an Underweight rating and reduced its target to $16 from $24.
William Blair was more upbeat, with analyst Jed Dorsheimer saying he believes Enphase is near a bottom.
why it matters
Weak US demand for residential solar systems due to high rates, pressure on gross margins from lower energy storage prices, and uncertainty over tax guidance keep the residential solar sector exposed. Analysts want proof of demand before turning positive, so investors are likely to stay cautious for now.
market impact
Enphase and US residential solar: weak outlook and downgrades weigh on the shares
- Enphase shares (ENPH) pressure down — weak fourth-quarter outlook and analyst downgrades
tags
instruments
sources
- Enphase sinks to six-year low on Q3 miss; Oppenheimer, Roth pile on with downgrades — Seeking Alpha, 28 October 2026 at 19:53 UTC
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