Jim Cramer Recommends Selling These 5 Stocks

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

Number of Hedge Fund Holders: 57

Enphase Energy, Inc. (NASDAQ:ENPH) markets home energy solutions and has operations across the world. Cramer gave the stock a Sell recommendation during the Lighting Round of his show on June 8. He claimed that the stock was too expensive and there were many “better stocks” in the sector to choose from. 

On April 27, Craig-Hallum analyst Eric Stine maintained a Buy rating on Enphase Energy, Inc. (NASDAQ:ENPH) stock and lowered the price target to $213 from $241, noting the broader multiple compression in the sector as one of the reasons behind the revised target. 

At the end of the first quarter of 2022, 57 hedge funds in the database of Insider Monkey held stakes worth $749 million in Enphase Energy, Inc. (NASDAQ:ENPH), compared to 50 the preceding quarter worth $763 million.

In its Q1 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Enphase Energy, Inc. (NASDAQ:ENPH) was one of them. Here is what the fund said:

“Enphase Energy, Inc. (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”

You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Warren Buffett Stocks to Buy Now.

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