These 10 Firms Led Lagged Performance on Wednesday

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

Enphase Energy saw its share prices fall by 15.65 percent on Wednesday to close at $45.07 apiece following announcements from its chief executive that the company would absorb most of the impact of the Trump administration’s tariffs on Chinese imports.

During the company’s earnings call, ENPH CEO Badri Kothandaraman said that although the company can raise its battery prices between 6 and 8 percent this year, it plans to bear the brunt of steep duties from China, which accounts for up to 95 percent of its global battery cell supply.

“We are absorbing the impact because we think we can decouple this effect in two to three quarters,” ENPH CEO Badri Kothandaraman said.

Following the call, RBC Capital Markets lowered its price target for ENPH to $54 from $59 previously, while maintaining a Sector Perform rating on the stock.