🔴 Enphase Energy is trading 14.35% down after weak Q4 revenue guidance

Enphase Energy is trading at $25.49, down 14.35%, after issuing fourth-quarter revenue guidance well below analyst estimates.

• October 27 third-quarter results missed analyst expectations, with revenue of $293.3 million and adjusted earnings of $0.41 per share.
• Fourth-quarter revenue is forecast at $225 million–$255 million; management expects sell-through to fall 10% sequentially amid weak residential demand.
• On October 28, Oppenheimer downgraded the stock to Perform from Outperform.