Enphase Energy shares rise on Q1 profit, higher revenue

Ideal Power

01/05/2019 12:35

** Shares of renewable energy equipment maker  ENPH.O  rise
18.4% to $11.89 premarket 
    ** Stock one of the biggest gainers on NASDAQ before the
bell
    ** Co reports ~43 pct rise in Q1 revenue of $100.2 mln 
    ** Q1 EPS at 2 cents/shr vs loss of 6 cents/shr a year
earlier
    ** We continued to see strong demand across the board from
our customers, overcoming the typical first quarter seasonality
in the solar industry - ENPH  urn:newsml:reuters.com:*:nGNX9tLbz8
    ** Co forecasts Q2 revenue of $115 mln-$125 mln
    ** H.C. Wainwright raises price target to $16 from $12 on
"continued results and outlook outperformance"
    ** "Enphase is currently one of the few companies in the
market that have a high quality problem of trying to keep up
with demand" - H.C. Wainwright 
    ** Ideal Power Inc  IPWR.O , a supplier of tech solutions to
renewable energy cos, also up 13 pct to 48 cents
    ** ENPH stock up more than 112 pct YTD

 (Reporting by Debroop Roy in Bengaluru)
 ((Reuters Messaging:
debroop.roy.thomsonreuters.com@reuters.net))