September is, historically, the most bearish month of the year for stocks. There are a number of stocks that consistently underperform the rest of the market during this time. Schaeffer's Senior Quantitative Analyst Rocky White compiled a list of the worst 25 of them, with data going back 10 years. To see the list of the best stocks to own, click here.
Enphase Energy Inc (NASDAQ:ENPH) is a standout on this list, marking September losses in eight of the last 10 years with an average 5% drop. ENPH hasn't been shining too bright heading into this month, either. Solar stocks took a hit after President Trump bashed solar and wind projects, blaming them for high electricity costs, while the EV charging component of Enphase's business has failed to provide meaningful tailwinds.
On the charts, ENPH has struggled to rebound off its Aug. 6 five-year low of $29.89. Though the shares were last seen up 1.6% to trade at $37.57 today, long-term pressure at the 60-day moving average is keeping a cap on gains. Since the start of the year, the equity is down 45.4%.
An unwinding of optimism amongst options traders could push the stock lower as well. Enphase stock's 10-day call/put volume ratio of 2.65 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 90% of readings from the past year.
