Here's Why Shares of Enphase Energy Skyrocketed More Than 55% in February
Representing one of the best renewable stocks of not only 2019 but the entire decade, Enphase Energy (NASDAQ: ENPH) has maintained its upward trajectory in 2020, climbing 21% in January and 55.4% in February, according to data from S&P Global Market Intelligence. Besides a strong Q4 earnings report, investors responded favorably to the company's auspicious outlook for Q1 2020 and a bullish wave of sentiment regarding the stock that resounded on Wall Street.
Booking revenue of $624.3 million in 2019, Enphase Energy reported a 97.5% increase over the $316.2 million the company reported in 2018. But this top line of the income statement was merely the tip of the iceberg in terms of year-over-year improvements. Enphase expanded its gross margin to 35.4% in 2019 from 29.9% in 2018, which helped the company turn a profit, as opposed to incurring a loss. In 2018, for example, the company reported a $0.12 loss per share; however, in 2019, the company generated $1.23 in diluted earnings per share.
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Source Fool.com
