Solar Woes Deepen After Enphase Stock Plunges to Three-Year Low

Late Thursday, Enphase, which makes solar inverters and batteries, projected revenue for the current quarter that fell well below analyst forecasts. The California- based company said the slowdown in solar-product sales would last into early next year.

In recent market action, the stock fell around 17%, echoing an afterhours selloff Thursday.

The stock recently traded at under $80. It hit its lowest levels in more than three years.

The stock has dropped around 70% this year.

Shares in peers such as SunRun (RUN) and SolarEdge Technologies (SEDG) tumbled.