Solar Stocks Drop on Enphase’s Weak Report

Shares of Sunrun Inc (RUN), SolarEdge Technologies Inc (SEDG), and Sunnova Energy International Inc (NOVA) fell in extended trading Tuesday, following the disappointing earnings report from Enphase Energy Inc (ENPH). Enphase reported lower-than-expected quarterly revenue and earnings, attributed to declining US demand and inventory management. The company’s weak guidance added to the selling pressure after hours. Sunnova, Sunrun, and SolarEdge are scheduled to release their quarterly results in early May, and analysts expect mixed performances.

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