With the benefit of a lower valuation, Enphase was able to regain some ground in November as inflation came down, and as its CEO purchased a significant number of shares on the open market. Enphase also posted an earnings miss and even worse-than-feared guidance at the end of October, as distributors looked to de-stock their inventory on weak demand. On the other hand, it's possible Enphase will never garner a low multiple, at least anytime soon, as it's a technology and profit leader in an industry thought to have strong long-term growth prospects -- that being residential solar.