Enphase Energy Inc (OTCMKTS:ENPH) is hot in the market now.
Since August, it has continued to rise steadily, rising from $0.92 to $2.77 which is triple its value in only three months.
In this piece, we reveal all that has been going on with the firm and factors that have contributed to this massive jump in its value.
Here is the stock’s price movement shown below:
Enphase Energy, Inc. is a provider of energy management solutions. The company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. It delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity. Its microinverter system consists of three components: Enphase microinverters, an Envoy gateway and Enlighten cloud-based software which provide power conversion at the individual solar module level by a digital architecture that incorporates custom application specific integrated circuits (ASIC), specialized power electronics devices, and an embedded software subsystem. Envoy bi-directional communications gateway provides collecting and sending data to Enlighten software. Enlighten cloud-based software provides the capabilities to remotely monitor, manage, and maintain an individual system or a fleet of systems. The company revolutionized solar with its micro inverter technology and produces the world’s only truly integrated solar plus storage solution. Enphase has shipped approximately 15 million micro inverters, and more than 661,000 Enphase systems have been deployed in more than 100 countries.
In October 2017 Enphase Energy, Inc. was named the number one residential PV monitoring vendor in North America by GTM Research and market intelligence firm SOLICHAMBA, based on total capacity of residential PV systems monitored in the first half of 2017.
The report, “Global PV Monitoring 2017-2022: Markets, Trends and Leading Players,” is the solar industry’s only comprehensive analysis of the PV monitoring and control software markets. In their analysis of technologies and vendors, GTM Research and SOLICHAMBA placed Enphase at the top of the residential segment in North America. The report also names Enphase the number two residential PV monitoring vendor globally, and the number four residential PV monitoring vendor in Europe in the inverter category.
With over 140 patents, Enphase continues to drive differentiation through innovation and meet the changing needs of residential solar customers. Enphase is the world’s leading provider of microinverters, with approximately 15 million installed in more than 661,000 systems around the world.
In September 2017, the firm announced its partnership with Waaree Energies Limited India’s largest Tier 1 solar panel manufacturer.
Waaree agreed to partner with Enphase to produce an AC solar module (ACM) for the Indian market. Waaree will offer its high quality and high reliability monocrystalline solar PV modules with Enphase Microinverters attached to the back of Waaree’s modules.
This is the first ACM partnership that Enphase Energy has established in India. The Waaree Enphase AC modules will be assembled and shipped directly from Waaree’s PV module factory, located in Surat in a 500MW state of the art facility that is one of India’s largest PV module factories.
Nathan Dunn, managing director of Enphase Asia-Pacific outlined that Enphase Energy is the first global microinverter technology company to partner with Waaree to integrate its technology onto their solar modules.
He was quoted saying
“This is a truly exciting opportunity as it will allow us to extend our presence in India with a market leader in solar modules. Enphase and Waaree share the same philosophy of delivering solar solutions built on innovative technology and quality. Together, we will work toward delivering more affordable solar power to commercial and residential customers in India.”
Enphase’s Microinverters, promoted through the Company’s Made for India campaign, are designed and proven to operate for decades in harsh climates such as India’s. Enphase offers the most advanced inverter technology on the market with higher production, greater reliability and intelligence. Installers can get better performance and smarter insights with Enphase Microinverters as they are simple to install, designed for flexibility and lead the industry with their reliability. With Enphase Microinverters, installers can reduce their installation and maintenance costs and bring greater value to their customers.
Enphase Energy reported total revenue for the third quarter of 2017 of $77.0 million, an increase of 3 percent compared to the second quarter of 2017. During the third quarter of 2017. Gross profit margin for the third quarter of 2017 was 21.8 percent
Operating expenses were $16.9 million, a decrease of 41 percent compared to the third quarter of 2016 which contributed to an operating loss of $0.1 million for the third quarter of 2017, compared to a operating loss of $12.4 million for the third quarter of 2016.
Net loss in the third quarter of 2017 was $0.96 million, a net loss of $0.01 per share a massive reduction compared to the third quarter of 2016 net loss of $13.4 million, or a net loss of $0.28 per share.
At the end of the quarter, the firm had total cash balance of $28.9 million, enough to meet immediate need for to pay off suppliers and follow up on other investment opportunities.
It is difficult to see ENPH go anywhere but up considering the level of investment and planning its management have put into it.
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Disclosure: We have no position in ENPH and have not been compensated for this article.