5 Best Tech Stocks to Buy On the Dip

2. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 63

Share Price Decline in the Past Six Months: 13%

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the most notable technology names in the clean energy space. Enphase Energy, Inc. (NASDAQ:ENPH) makes solar micro-inverters, battery energy storage, and EV charging stations. Enphase Energy, Inc. (NASDAQ:ENPH) has lost about 23% in value over the past six months as of April 11. In March, Susquehanna Financial upgraded Enphase Energy, Inc. (NASDAQ:ENPH) to Positive from Neutral with a $275 price target. The firm at the time said Enphase Energy, Inc. (NASDAQ:ENPH)’s valuation had become attractive following a 40% decline since December 2022. The firm said that growth in Europe could offset short-term weaknesses in the US.

As of the end of the fourth quarter of 2022, 63 hedge funds had stakes in Enphase Energy, Inc. (NASDAQ:ENPH). The biggest stakeholder of Enphase Energy, Inc. (NASDAQ:ENPH) is John Overdeck And David Siegel’s Two Sigma Advisors which owns a $354 million stake in the company.