Enphase Tanks 24% As Market ‘Overreacts’ To Forecasts ...Middle East

OILPRICE - Economy
Enphase Tanks 24% As Market ‘Overreacts’ To Forecasts
source : OILPRICE ( Middle East ) () 30
Enphase Energy (NASDAQ:ENPH) tanked over 24% on Wednesday after forecasting weaker second-quarter revenue, despite strong Q1 sales in Europe. On Wednesday at 12:38 p.m. EST, Enphase shares were down 24.69% to $166.14, with year-to-date shares down 34.41%.  The major sell-off comes after Enphase reported quarterly earnings of $1.37 per share, beating analyst estimates of $1.20 per share, and prompting some comments that the sell-off is an overreaction.  Enphase, a global energy technology company and the world’s leading supplier…

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