What happened

After plunging 34% in March, shares of Enphase Energy (NASDAQ:ENPH) bounced back and climbed 45% last month, according to data from S&P Global Market Intelligence. Encouraged by the overall bullish sentiment which buoyed the S&P 500 13% higher, investors also responded favorably to news revealing the global expansion of the company's operations, indications that the company was successfully navigating the challenges wrought by the coronavirus, and the stock's inclusion in a new index.

So what

Early in April, Enphase revealed a variety of training solutions for installers to prepare them for when social distancing requirements subsided. In addition to online training options, Enphase also announced the opening of 11 regional training centers, which will provide installers with hands-on training.

A solar panel installer works with a drill on a roof.

Image source: Getty Images.

Besides working to strengthen its position in the U.S., Enphase took steps to broaden its reach in Europe and Australia, executing on a key priority for 2020 which was revealed in its 2019 letter to shareholders.

On April 7, the company announced its collaboration with Courant Naturel, a residential solar installer. Located in southwestern France, Courant Naturel will exclusively use Enphase's microinverters for its installations. Investors also were motivated to pick shares upon learning of the company's progress Down Under, where Enphase is collaborating with 5B and its bushfire relief campaign, which seeks to provide solar power solutions to Australians who had lost connection to the grid due to bushfires and floods.

Lastly, investors celebrated the late-April announcement that Enphase would become a member of the S&P MidCap 400 index, replacing Core Laboratories. In and of itself, the inclusion of Enphase on the index doesn't reflect anything auspicious about the company's fundamentals; however, the stock will now be a required purchase for funds which track the S&P MidCap 400.

Now what

Outpacing the S&P 500's climb last month, shares of Enphase Energy skyrocketed as investors took notice of the company's actions in working to ensure installers were well-prepared when social distancing requirements eased up. Furthermore, the formation of new partnerships in France and Australia should bode well for the company as it works to expand its geographic footprint.

Overall, there was a lot for investors to celebrate last month for this leader in the renewable energy industry. Whether the good news continues this week remains to be seen as the company reports its first quarter 2020 earnings on May 5.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.