Is Enphase Energy's Stock A Buy After Issuing Lower Guidance?

Enphase Energy Inc ENPH is trading lower on Wednesday after the company reported lower than expected second-quarter revenue guidance.

Enphase Energy is a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems.

What Happened: Enphase Energy reported first-quarter financial results on Tuesday. The company reported EPS of 56 cents, beating the estimate of 44 cents. Revenue of $301.8 million beat the estimate of $292.04 million.

The company issued second-quarter revenue guidance of $300 million to $320 million, which came in lower than the expected $320.92 million.

Related Link: 4 Clean Energy Stocks Set To Outperform Says Evercore ISI

“Enphase Energy is one of the greatest performing stocks for the last five years. The problem here is that it’s become one of those high-multiple casualties where people say forget about it. I am a believer in Enphase Energy," Jim Cramer said on Tuesday's "Mad Money."

ENPH Price Action: The stock was trading down 14.2% at $146.83 at last check Wednesday.