Enphase Accused of Giving Investors Misleading Revenue Outlook

Enphase Energy Inc. was sued by a shareholder who alleges the California solar equipment maker misled investors about its financial outlook.

Enphase hid from investors a decrease in battery shipments to Europe and California, the suit said. The company also failed to disclose a slowdown in battery adoption, and a longer transaction period with a new solar billing structure, it said.

Renewable energy stocks struggled last year, hampered by high interest rates and other industry factors. Hedge funds shorting Enphase and inverter maker SolarEdge Technologies Inc. made about $1.5 billion over several months in 2023, Bloomberg News reported.

The ...