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FREMONT, Calif. - Enphase Energy, Inc. (NASDAQ:ENPH), currently trading near its 52-week low with a market capitalization of $4.6 billion, announced Tuesday the release of its 4th-generation Energy System, featuring the IQ Battery 10C, IQ Meter Collar, and IQ Combiner 6C. According to InvestingPro data, the company maintains strong fundamentals despite its stock declining nearly 70% over the past year.
The new IQ Battery 10C offers 10 kWh of usable energy and 7.08 kW of continuous power, capable of supporting heavy startup loads such as HVAC systems. According to the company, the battery delivers 34% greater energy density while requiring up to 62% less wall space compared to previous models. This innovation comes as Enphase maintains a healthy financial position, with a current ratio of 1.97 and more cash than debt on its balance sheet.
The system includes the IQ Meter Collar, which provides microgrid interconnection device functionality and eliminates the need for a backup sub-panel by mounting behind the utility meter or on a standalone meter socket. The IQ Combiner 6C consolidates interconnection equipment into a single enclosure with integrated breaker spaces for solar, battery, EV charging, and load control.
Enphase stated the new components reduce wall space requirements and installation complexity. The company has begun shipping the IQ Battery 10C with domestic content from U.S. contract manufacturing facilities, potentially helping projects qualify for the Domestic Content Bonus Credit.
"We’re delivering smarter, more efficient, and more powerful solutions that simplify installation, enhance reliability, and provide greater value to homeowners," said Ken Fong, senior vice president and general manager of the Americas and APAC at Enphase Energy, in the press release.
The 4th-generation system comes with a 15-year limited warranty. Shipments began last month, and orders can now be placed through Enphase distribution partners.
The lithium iron phosphate battery chemistry is designed to provide safety and longevity, according to the company’s statement. With 14 analysts recently revising their earnings estimates upward and a consensus indicating the stock may be undervalued, investors can access detailed analysis and additional insights through InvestingPro’s comprehensive research reports, which cover over 1,400 US stocks including Enphase Energy.
In other recent news, Enphase Energy reported financial results that exceeded expectations for both revenue and earnings, with storage shipments and non-GAAP margins surpassing the high end of guidance. Despite these positive results, the company has adjusted its revenue guidance downward, leading Northland to lower its price target from $64.00 to $52.00 while maintaining an Outperform rating. Similarly, Oppenheimer reduced its price target to $77.00 from $86.00, citing slower demand, but also maintained an Outperform rating. Goldman Sachs reiterated its Sell rating with a $32.00 price target, despite Enphase’s second-quarter performance beating expectations. BofA Securities also lowered its price target to $30.00 from $31.00, maintaining an Underperform rating due to structural weaknesses in the U.S. residential solar market. Meanwhile, Enphase Energy has begun shipping its most powerful microinverters, the IQ8P models, to Italy and Switzerland. These microinverters are designed to support high-powered solar modules, featuring a peak output of 480W AC power. The company’s ongoing product design improvements have been noted as a positive factor in its recent performance.
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