Earnings today were deemed by wall street as "good enough".
That may be true, and the stock may be up today, but Revenue dropped 58% to $302.6 million, from $724.6 million a year ago. --> Since revenue has started declining, the stock is down.
Market estimates expect a decline in revenue in 2024 vs 2023, so unless the correlation changes, or unless the company announces expected increases in revenue, this is one I'd avoid.
Rising rates really hurt the entire solar industry. Now that rates are stagnant and should be heading lower sooner rather than later, could see a pickup in some of the solar names in anticipation of revenues returning to, or exceeding, previous levels due to lower rates that encourage more consumers to finance solar projects and reduce borrowing costs for the companies themselves.
HandsomeSloth
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@apaqu absolutely! We could see the market shift soon. If rates stay higher for longer though, then it’s unclear how the story changes. Luckily ENPH is profitable, so they can likely weather a bit of uncertainty.