By Josh Beckerman
SunPower shares were up 9% to $3.53 and First Solar gained 6% to $151.25 on a day when many solar-related stocks were higher.
Enphase Energy, which reported lower quarterly revenue on Tuesday, was up 5% to $122.28 on Friday. SolarEdge Technologies rose 3% to $77.72, Sunnova Energy International gained 6% to $11.61. SunRun and Canadian Solar were also higher for the day. The S&P 500 was recently up about 0.5%.
Following Enphase’s earnings report, Truist Financial said, “While we wouldn’t call ENPH 4Q results/1Q outlook overwhelmingly positive, the company was able to adequately address and quell investor fears of yet another shoe to drop in the resi solar space.”
Sunergy Renewables, a residential solar and energy efficiency company that is merging with blank-check company ESGEN Acquisition, said Thursday that quarterly revenue fell 3%. It noted “significant headwinds” in the industry but said it “saw solar system installations increase across geographies.”
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