2024-07-03 03:22:30 ET
Summary
- Enphase Energy stock is now a "Strong Sell" due to declining revenue, sky-high inventory levels, and real risks of supply chain disruptions.
- Recent quarterly earnings missed estimates, with revenue dropping 63.7% YoY in Q1 2024, but the company's financial position remains strong.
- Valuation analysis suggests ENPH stock is overvalued, with a fair value of $8.7 billion, 36% lower than the current market cap, leaving room for further decline.
Investment thesis
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Enphase Energy: A Bundle Of Red Flags