We recently published a list of 10 Battered Stocks on Friday. In this article, we are going to take a look at where Enphase Energy, Inc. (NASDAQ:ENPH) stands against other battered stocks on Friday.

The stock market ended the trading week in the green territory, with all major indices gaining more than 1 percent after slipping into the negative territory at intra-day trading following a clash between US President Donald Trump and Ukrainian leader Volodymyr Zelensky at the White House.

Following the televised meeting, the two leaders concluded the encounter without a deal for joint development of mineral resources.

The Dow Jones jumped by 1.39 percent, the S&P 500 surged by 1.59 percent, and the Nasdaq soared by 1.63 percent.

Ten companies bucked a broader market optimism, with three stocks heavily battered by disappointing earnings results, losing more than 20 percent in their valuations.

In this article, we have detailed the reasons behind their weak performance.

To come up with Friday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

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Enphase Energy, Inc. (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) extended its losing streak for a fourth day on Friday to hit a new all-time low of $56.83 at intra-day trading before gaining a little momentum to end the day just down 6.31 percent at $57.33 each.

According to analysts, the price level reflects significant volatility for the company, registering a 1.68 beta, indicating higher market sensitivity than average.

Over the past year, the company noticeably was tracking a downward trajectory, while year-to-date price registered a 16.53-percent drop.

In the fourth quarter of the year, Enphase Energy, Inc. (NASDAQ:ENPH) saw net income triple to $62.16 million from $20.20 million in the same period a year earlier, while revenues rose by 26 percent to $382.7 million from $302.57 million.

However, full-year net income fell by a whopping 76.6 percent to $102.6 million from $438.9 million in 2023, while revenues declined by 42 percent to $1.33 billion from $2.29 billion year-on-year.

Overall, ENPH ranks 6th on our list of battered stocks on Friday. While we acknowledge the potential of ENPH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ENPH but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.