5 Best Wind Power and Solar Stocks To Buy

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

Number of Hedge Fund Holders: 59

Enphase Energy, Inc. (NASDAQ:ENPH) is a pureplay solar energy company. The firm makes and sells solar power products such as inverters and battery storage systems. It is headquartered in Fremont, California, the United States.

Enphase Energy, Inc. (NASDAQ:ENPH)’s third quarter saw the firm report a stunning 80% annual revenue growth, with its European revenue posting a 70% growth. Revenue during the quarter stood at $634 million, which also marked a 20% sequential, or quarterly, growth. At the same time, Enphase Energy, Inc. (NASDAQ:ENPH)’s margins stood at 43%, despite the inflationary wave that has rocked the industry in 2022.

Consequently, Enphase Energy, Inc. (NASDAQ:ENPH)’s shares are up by 69% year to date, and 59 out of the 920 hedge funds polled by Insider Monkey during this year’s third quarter had bought its shares.

John Overdeck and David Siegel’s Two Sigma Advisors is Enphase Energy, Inc. (NASDAQ:ENPH)’s largest investor. It owns 1.4 million shares that are worth $393 million.