Enphase stock drops 25% to lowest in nearly a year as company's weak guidance spooks Wall Street

Enphase Energy Inc. stock on Wednesday dropped to its lowest in nearly a year as investors worried that demand headwinds are here to stay.

Enphase ENPH shares were the worst performer in the S&P 500 index SPX and the Nasdaq 100 NDX . It was poised to close at its lowest since May 24, when it closed at $162.51, and on pace for largest one-day percent drop June 2020. The second-quarter guidance is “the greatest concern,” BofA Securities analyst Julien Dumoulin-Smith said in a note Wednesday. Dumoulin-Smith downgraded his rating on Enphase stock to the equivalent of sell, saying that for investors it will be “too expensive to wait on recovery.”

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Enphase stock falls more than 15% as revenue outlook disappointsShares of Enphase Energy Inc. dropped more than 15% in the extended session Tuesday after the energy technology company reported first-quarter earnings that...
Source: MarketWatch - 🏆 3. / 97 Read more »

Enphase stock falls more than 15% as energy-tech company's revenue outlook comes up shortShares of Enphase Energy dropped more than 15% in the extended session Tuesday after the energy technology company projected lower-than-expected revenue in the current quarter.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest moves after hours: Enphase Energy, PacWest Bancorp, Chipotle, Microsoft and moreThese are the stocks posting the largest moves in extended trading.
Source: CNBC - 🏆 12. / 72 Read more »