Enphase Energy Joins Rank Of Stocks With 95-Plus Composite Rating

By INVESTOR'S BUSINESS DAILY

On Thursday, Enphase Energy got an upgrade for its IBD SmartSelect Composite Rating from 93 to 98.

The revised score means the stock currently tops 98% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they start a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.

Enphase Energy is currently forming a double bottom, with a 181.82 buy point. See if the stock can break out in heavy trade at least 40% above average.

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The stock sports a 97 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 97% of all stocks.

Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.

The company reported 212% earnings-per-share growth for Q2. That marks four straight reports with rising EPS gains. Revenue growth rose 152%, up from 47% in the prior quarter. That marks four quarters of increasing revenue gains. The company's next quarterly report is expected on or around Oct. 27.

Enphase Energy earns the No. 1 rank among its peers in the Energy-Solar industry group. Daqo New Energy and Solaredge Technologies are also among the group's highest-rated stocks.


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