Enphase Energy Inc. (NASDAQ:ENPH) hit a new 52-week low of $36.15, underscoring ongoing weakness in the renewable energy space. The stock, which now carries a market capitalization of approximately $6.03 billion and a beta of 1.7, continues to exhibit elevated volatility.
The milestone reflects a sharp downturn for the solar technology company, which has seen its share price tumble 61.41% over the past 12 months. The sustained selloff highlights growing investor skepticism and the broader uncertainty weighing on clean energy stocks.
The steep decline raises concerns about Enphase’s growth outlook and investor confidence, especially as macroeconomic pressures and shifting policy landscapes reshape the renewable energy industry.
Mounting Analyst Downgrades Add Pressure
Recent analyst revisions have added to the negative sentiment. RBC Capital Markets revised its price target on Enphase from $54 to $50, reiterating a Sector Perform rating. The change reflects uncertainties surrounding clean energy tax incentives, which could pose operational risks.
BMO Capital Markets also issued a downgrade, shifting its rating from Market Perform to Underperform, and cutting its price target from $46 to $39. The downgrade was driven by concerns over potential expiration of the Section 25D Residential Clean Energy Credit by the end of 2025.
Barclays followed suit, moving its stance from Overweight to Underweight, with a reduced price target of $40, down from $51. Analysts cited weakening demand in the U.S. residential solar market as a key factor.
Citi analysts echoed these concerns, lowering their target to $43 from $47 while maintaining a Sell rating. Meanwhile, Roth Capital Partners pointed to a recent amendment in a House bill that could disrupt the residential solar segment—posing additional challenges for companies like Enphase.
With policy uncertainty looming and residential solar demand appearing fragile, the outlook for Enphase remains clouded. As the company navigates a rapidly changing environment, investors will be closely watching for any signs of stabilization or strategic pivots.