Why Shares of Enphase Energy Are Soaring Today

Dimming through much of April, shares of solar power specialist Enphase Energy (NASDAQ: ENPH) are shining much brighter in investors' eyes after the company reported first-quarter earnings 2022 yesterday. That's not the only thing that's powering the bulls' enthusiasm today, though. Management's auspicious outlook for the second quarter and Wall Street's positive sentiment for the solar stock are also motivating investors to click the buy button.

As of 11:24 a.m. ET on Wednesday, shares of Enphase Energy were up 7.2%.

Exceeding analysts' expectations that the company would report $432.3 million on the top line, Enphase Energy reported sales of $441.3 million for the first quarter of 2022, representing a new company record for quarterly revenue.

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Source Fool.com