5 Most Promising Clean Energy Stocks According to Analysts

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

Number of Hedge Fund Holders: 63

One-Year Average Price Estimate: $300

Fremont, California-based Enphase Energy, Inc. (NASDAQ:ENPH) makes solar micro-inverters, battery energy storage, and EV charging stations. Enphase Energy, Inc. (NASDAQ:ENPH) was trading at around $200 as of March 16, while its one-year average price estimate is $300. This shows a massive upside potential from the current levels.

Earlier this month, Citi counted Enphase Energy, Inc. (NASDAQ:ENPH) among its top picks in the solar sector. The firm said in a note to investors that Enphase Energy, Inc. (NASDAQ:ENPH) is “laser focused” on customer satisfaction and is ahead of the curve when it comes to innovation. Citi also likes Enphase’s capital allocation and operating strategy.

As of the end of the fourth quarter of 2022, 63 hedge funds had stakes in Enphase Energy, Inc. (NASDAQ:ENPH). The total value of these stakes was $2.2 billion.

ClearBridge Investments made the following comment about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2022 investor letter:

“In IT, Enphase Energy, Inc. (NASDAQ:ENPH) delivered a strong quarter driven by secular growth in global rooftop solar, increased penetration into Europe, where demand accelerated, and a continued ramp up in battery storage sales. Also with a strong presence in the U.S., Enphase Energy designs and manufactures microinverters for residential and small commercial solar PV systems and has made strides in evolving from a solar inverter maker into a “home energy management” company that can act as the brains for the home’s energy system, including microinverters for solar, as well as storage and energy management software.”