In short: Solar microinverters/battery storage in a multi-year depression — stock $335 (end-2022) to $33. EPS 0.47 vs 0.68 (−31%); Q2 revenue guide 280–310M "in line" but no sign of improvement. "The stock lacks a thesis and without one, it's hard to see why the stock will move up."
Enphase sells the gear for home solar — microinverters (which convert solar panels' power for household use) and battery storage. The residential-solar market has been in a multi-year slump, and the stock shows it: from $335 at the end of 2022 to about $33 now. This quarter earnings fell 31%, and while next-quarter guidance was "in line," there was no sign of a turn. Eisman's verdict is the harshest kind for an investor — "the stock lacks a thesis": with no clear reason to expect improvement, there's no case to own it.
20:38Enphase, this is a solar stock I have spoken about before. It sells solar microinverters and battery storage systems to consumers. The consumer solar side of the business has been in something of a depression for the past few years as is evident from Enphase's stock price, which has declined from $335 at the end of 2022 to its current 33.
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