Enphase Energy is not too late to buy, according to Jim Cramer who sees a bottom for the company.

• On Friday, CNBC's Jim Cramer advised investors to consider purchasing Enphase stock, which experienced significant growth this week despite reporting a subpar quarter.
• Management's optimistic outlook motivated Cramer, indicating that the company had reached a low point and would recover this year.

On Friday, CNBC's Jim Cramer advised investors to consider purchasing shares of , which experienced growth this week despite reporting a fourth quarter that did not meet Wall Street's expectations.

Although the stock price decreased by 40% from its peak of $231.42 in April 2023, the shares of the company were still trading at a higher price by Friday's close.

Enphase's outlook encouraged Cramer, as management predicted a bottom followed by a rebound for the solar industry, which has struggled in a high interest rate environment.

Enphase could experience a significant surge in demand after a poor quarter because we are finally witnessing the indications of an approaching market bottom, and solar stocks are now more appealing as we move into a lower interest rate environment. Therefore, you have my approval to take a small position now and then try to purchase more during the next market-wide sell-off.

Cramer stated that Enphase represents the solar industry as a whole, and the Fed's persistent rate hikes negatively impacted sales, resulting in an inventory surplus. However, the Fed announced that it intends to reduce rates later this year, although not in the spring as many investors had hoped.

If investors want to buy shares at the bottom, they need to get in before Enphase finishes "destocking" and returns to growth mode, according to Cramer.

Although Enphase's stock has already caught fire this week, it's not too late to buy as the numbers will start improving in three to six months. However, it's important to note that Enphase is only worth owning if you believe interest rates will fall over the course of the year, which is a safe bet.

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