What's Going On With Enphase Energy Stock This Week?

Enphase Energy, Inc. ENPH shares are up more than 10% over the last week. The company recently announced that it has furthered its relationship with Natec to distribute IQ Microinverters and IQ Batteries throughout Europe.

What To Know: Natec is a leading wholesaler of solar and battery products. Pieter van de Meerakker, head of purchasing at Natec emphasized the relevance of the relationship between the two companies when he said, "Enphase is the market leader in microinverter technology and has an incredible reputation with installers throughout Europe. We're pleased to see Enphase continuing to grow its business across the region and looking for new ways to make solar energy smarter, simpler, and more affordable for homeowners."

IQ Microinverters utilize Enphase's distinctive software-defined architecture and semiconductor integration for fantastic reliability and economies of scale.

Enphase began production shipments of microinverters from its contract manufacturer Flex in Romania earlier this year. The factory has allowed Enphase to improve delivery times to European customers while handling the region's speedy growth and demand for residential solar due to the increased global capacity of microinverters per quarter.

Related Link: Why Hormel Foods Stock Is Rising Today

ENPH Price Action: Shares of ENPH closed Thursday up 4.37% at $181.47, according to Benzinga Pro.

Image by Maria Maltseva from Pixabay