SolarEdge Technologies Inc SEDG shares have lost more than 80% year to date.
TD Cowen analysts cut their rating on the solar-equipment company to Hold from Buy and slash their price target to $16 from $35.
SolarEdge Technologies (SEDG) concluded the recent trading session at $20.13, signifying a -0.64% move from its prior day's close.
Elon Musk is at it again, igniting the solar conversation with a tweet Tuesday.
SolarEdge's revenue has stabilized, with multiple positive catalysts including normalized U.S. inventories, rebounding European demand, and rising U.S. electricity prices. The valuation of SEDG stock is low, and despite some risks facing the company, the balance sheet situation is manageable, making it a buy for risk-tolerant, long-term investors. SolarEdge's Q2 revenue increased sequentially, driven by strong U.S. residential market sales and improved commercial sales, despite a year-over-year decline.
SolarEdge Technologies (SEDG) shares tumbled in early trading Tuesday, before rebounding later in the session after Jefferies downgraded the stock, pointing to tough competition in the solar power industry.
Jefferies analysts cut their rating on the solar-equipment company to Underperform from Hold.
SolarEdge Technologies Inc (NASDAQ:SEDG) stock sports a 4.6% premarket loss, after a Jefferies downgrade to "underperform" from "hold," and price-target cut from $27 to $17.
The interest rate environment has caused a slowdown in renewable energy project spending. Sales have dropped, but there are signs that SolarEdge is seeing a recovery.
SolarEdge Technologies reported Q2 2024 results largely in line with the disclosures made in conjunction with the company's $300 million convertible notes offering in June. While revenues were up by almost 30% sequentially, gross margin remained negative and the company continued to burn sizeable amounts of cash. Cash flow remains a crucial issue as the company is facing a $347.5 million convertible notes maturity next year.
SolarEdge's stock tumbles after the CEO's resignation, prompting many to wonder if the new CEO is more or less likely to solve the company's problems.
SolarEdge Technologies Inc (NASDAQ:SEDG) is reversing a 6% premarket lead, last seen down 5.8% at $27.17 following news that CEO Zvi Lando is stepping down from his position.