Enphase (ENPH) Shares Skyrocket, What You Need To Know

What Happened?

Shares of home energy technology company Enphase (NASDAQ:ENPH) jumped 5.4% in the afternoon session after the company was added to the S&P SmallCap 600 index, a move that boosted its institutional credibility. 

This inclusion, effective September 22, 2025, typically prompted buying from investment funds that track the index, increasing demand for the shares. The change was part of a broader index rebalancing, which also involved Enphase being dropped from the S&P 500 Information Technology sector. However, investors focused on the positive aspect of the SmallCap 600 addition. The stock's move also came on the heels of a recent price target increase from JP Morgan, which had lifted its target to $39.00 from $37.00, adding to the positive momentum.

The shares closed the day at $40.49, up 5.5% from previous close.

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What Is The Market Telling Us

Enphase’s shares are extremely volatile and have had 44 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 11 days ago when the stock gained 2.7% on the news that the company opened pre-orders for its new IQ EV Charger 2 and unveiled its IQ Bidirectional EV Charger architecture. 

The new products signal Enphase's deeper integration into the home energy ecosystem. The IQ EV Charger 2 is engineered to work seamlessly with the company's existing solar and battery systems, with US shipments expected to start by November 2025. More forward-looking is the IQ Bidirectional EV Charger, which will support vehicle-to-home (V2H) and vehicle-to-grid (V2G) capabilities. This technology allows an electric vehicle to not only draw power from the grid or a home solar system but also to supply power back to the home during an outage. Enphase expects its bidirectional charger to be available worldwide in the second half of 2026.

Enphase is down 43.4% since the beginning of the year, and at $40.41 per share, it is trading 65.5% below its 52-week high of $117 from September 2024. Investors who bought $1,000 worth of Enphase’s shares 5 years ago would now be looking at an investment worth $559.42.

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