Benzinga | Oct 11, 2021 11:34AM EDT

Why Enphase Energy Shares Are Rising

Shares of several solar stocks, including Enphase Energy, Inc. (NASDAQ:ENPH), are trading higher amid energy supply shortages, causing a potential increase in demand for alternative energy sources.

According to a Wall Street Journal report, energy supply shortages are slowing factory activity around the world and contributing to a recent pickup in inflation.

Worries about inflation and climbing government-bond yields have in turn sparked volatility in U.S. stocks in recent weeks.

Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally.

Enphase Energy's stock was trading about 6.9% higher at $164.97 per share on Monday at the time of publication. The stock has a 52-week high of $229.04 and a 52-week low of $92.14.