While solar technology company Enphase Energy Inc (NASDAQ:ENPH) may be one of the most actively traded stocks, it's for the wrong reason. Seemingly on no news, ENPH stock crumbled more than 8% in the Thursday afternoon session, which has turned a winning week into a losing one, down about 2% in the trailing five days. In the past month, ENPH has hemorrhaged more than 25%, effectively putting the underlying entity in crisis mode.
True, Enphase didn't necessarily do itself any favors in its most recent financial disclosure last month. On paper, the second-quarter results were strong. Earnings per share landed at 69 cents, above Wall Street analysts' consensus view of 63 cents. The figure also exceeded the year-ago quarter's earnings of 43 cents per share. On the top line, Enphase generated $363.15 million, above the consensus target of $359.26 million. One year ago, it rang up $303.46 million in revenue.
