Why Did Enphase Stock Jump?
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Enphase Energy (ENPH) stock rose 8.9% on Tuesday, November 3, 2026, outpacing a 0.4% gain for the S&P 500. The company released no announcements, earnings reports or filings. Solar stocks were extending their rebound into a second straight session as the group headed into a busy round of earnings reports, news reports said. How much of Enphase’s revenue comes from home solar?
Image by Markus Spiske from Pixabay
Enphase Sells Mostly Into Home Solar
Management said on the October 27 call that Enphase expects about 72% of its 2026 revenue to come from residential solar. Residential batteries should account for another 21%, leaving commercial solar, EV charging and other products as a small portion of the business. That makes Enphase a home solar and battery company first, part of the solar group that news reports said was rebounding.
Management ties Enphase’s results to that market. During the same call, they cited a third-party report showing U.S. residential solar permits were down about 35% in the third quarter from a year earlier. Enphase’s results were in line with those reports, management said.
Did Enphase Rise With Other Solar Stocks?
Yes. SolarEdge Technologies, one of its peers, matched Enphase’s advance, and Sunrun rose 5.2%. Three of the five companies on Enphase’s peer list moved higher during the session, while Tesla and SunPower fell. Generac was the third stock to rise, ending up 3.6%.
Enphase rose far more than its GICS sub-industry, semiconductor materials and equipment, which also includes Applied Materials and Lam Research. All 20 other companies of $2 billion or more in that group rose, climbing by a median of 2.9%, and six of them gained 5% or more. The sector’s SPDR fund, XLK, rose 1.3%. Enphase moved with its solar peers, finishing well ahead of its industry and sector.
Where Does Enphase Stock Stand Now?
A rise like this is not rare for Enphase, as the stock recorded 11 rises at least this large in the prior 365 days. It rose 8.9% during the previous session on November 2. Before that, the stock’s latest move at least this large in either direction was a 16.0% drop on October 28, the day after its third-quarter earnings call. That day’s close of $24.99 was its lowest in the past year.
Even after Tuesday’s gain, Enphase stock is down 0.3% over the past twelve months, trailing the S&P 500’s 11.9% return. Shares closed at $30.42, far below their 52-week closing high of $72.33 on June 2, 2026. The past three months alone brought a 21.9% fall, compared with a 1.7% drop for the S&P 500. Enphase currently trades at 3.3 times its sales over the past twelve months, close to the S&P 500’s 3.2.
Enphase is expected to report its fourth-quarter 2026 results in February 2027. Its revenue is the number to watch, measuring against the $225 million to $255 million management guided on its October 27 call.
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