Enphase Energy falls on dour forecast but analysts positive on long-term view
Shares of Enphase Energy hit a three-year low on Friday after the solar inverter maker forecast current-quarter revenue below estimates.
The company late on Thursday forecast fourth-quarter revenue to range between $300 million and $350 million, falling far short of analysts’ average estimate of $583.9 million, as per LSEG data.
It came after the company missed third-quarter revenue estimates over excess inventory levels and lower demand in European markets.
