Why Solar Stocks SunPower (SPWR) And Sunnova (NOVA) Are Moving After-Hours

SunPower Corp SPWR and Sunnova Energy International Inc NOVA shares are trading lower during Tuesday's after-hours sessions. Shares of several solar energy stocks are trading lower in sympathy with Enphase Energy Inc ENPH after the company reported mixed first-quarter financial results.

Enphase could be falling due to weaker-than-expected second-quarter revenue guidance. Enphase Energy sees second-quarter revenue in a range of $700 million-$750 million vs. the analyst consensus estimate of $772.96 million.

So What Happened?

Enphase Energy reported quarterly earnings of $1.37 per share, which beat the analyst consensus estimate of $1.20.

The company also reported quarterly sales of $726.02 million, which missed the analyst consensus estimate of $732.30 million by roughly 1%. This sales figure is, however, a marked 64.5% percent increase over sales of $441.29 million in the same period last year...Read More

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According to data from Benzinga Pro:

• SPWR is trading lower by 2.81% to $13.50
• NOVA is lower by 3.58% to $17.22