5 Most Popular Green Energy Stocks Among Elite Hedge Funds

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

Number of Hedge Fund Holders: 50

Based in Fremont, California, Enphase Energy, Inc. (NASDAQ:ENPH) is an energy technology company that specializes in microinverters, solar generation, and home energy storage. 

Enphase Energy, Inc. (NASDAQ:ENPH) reported its Q4 results on February 8. The company announced earnings per share of $0.73, exceeding estimates by $0.14. Enphase Energy, Inc. (NASDAQ:ENPH)’s revenue for the period jumped 55.84% year-over-year to $412.72 million, surpassing consensus estimates by $12.84 million. Enphase Energy, Inc. (NASDAQ:ENPH) shares rose 14.5% post-market after easily exceeding estimates for Q4 earnings and revenues, as well as guiding Q1 revenues above expectations.

On February 9, Craig-Hallum analyst Eric Stine upgraded Enphase Energy, Inc. (NASDAQ:ENPH) to Buy from Hold with a $241 price target. The analyst argued that Enphase Energy, Inc. (NASDAQ:ENPH) “emphatically” demonstrated its market leadership and ongoing strong execution as it posted Q4 results ahead of expectations and guided Q1 above estimates while navigating current market challenges. 

D E Shaw owns 999,931 shares of Enphase Energy, Inc. (NASDAQ:ENPH), worth roughly $183 million, and is a prominent stakeholder of the company. Overall, 50 hedge funds held long positions in Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter of 2021.

Here is what ClearBridge Investments has to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q2 2021 investor letter:

“Also in the solar space, we initiated a position in Enphase Energy (classified in the IT sector), which designs and manufactures microinverters for residential and small commercial solar photovoltaic (PV) systems. Enphase was the first company to commercialize microinverters for residential and small commercial solar PV systems. A microinverter, a type of MLPE, is a small inverter placed directly on the back of each solar module, as opposed to the traditional system of one string inverter on the side of the building.”