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Why Is Enphase Energy (ENPH) Stock Up Today?

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  • Enphase Energy (ENPH) stock is rising after expanding on a distribution partnership.
  • This has it teaming up with 4blue for the sale of its IQ Microinverters and IQ Batteries.
  • The new deal brings these products to customers in the Netherlands, Germany, Belgium, and Luxembourg.
ENPH Stock - Why Is Enphase Energy (ENPH) Stock Up Today?

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Enphase Energy (NASDAQ:ENPH) stock is on the rise Friday as investors react to the company expanding its distribution partnership in Europe.

This has Enphase Energy building on its current relationship with 4blue. This will see the distribution company handle shipments of ENPH’s IQ Microinverters and IQ Batteries in the Netherlands, Germany, Belgium, and Luxembourg.

Robert-Paul Evers, CEO of 4blue, said the following about the expansion in a news release.

‘The quality and reliability of Enphase’s IQ Microinverters and IQ Batteries have resulted in strong customer satisfaction, which helps to strengthen our reputation and grow our business. We take pride in helping our installer partners source and deeply understand Enphase’s home energy management solutions to help meet the needs of their customers from sale to install to ongoing operations and maintenance.”

What This Means for ENPH Stock

Expanding on its partnership with 4blue is a win for investors in ENPH stock. It allows the company to reach a wider market to sell its energy products. That growth could materialize as increased sales and a potentially higher share price.

Holders of ENPH stock are celebrating this news today with a 3.3% boost to the share price. That comes alongside some 1.6 million shares changing hands. This is still below its daily average of 3.9 million shares.

There’s more than just ENPH stock news that traders will want to know about on Friday!

Luckily, we’ve got all of the hottest stock market news today read to go for interested investors! A few examples include why shares of Xpeng (NYSE:XPEV), Nikola (NASDAQ:NKLA), and Unicycive Therapeutics (NASDAQ:UNCY) stock are moving today. We’ve got all of that news ready to go at the links below!

More Stock Market News for Friday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/06/why-is-enphase-energy-enph-stock-up-today/.

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