Goldman Sachs said that the market is overestimating the risks to the solar sector as it upgraded the solar equipment maker to Buy from Sell.
Goldman Sachs handed a buy rating and price target hike to SolarEdge, which has been a huge loser in 2024. The post This Clean Energy Stock Surges On Upgrade Despite Trump Uncertainty appeared first on Investor's Business Daily.
SEDG launches its first commercial storage system in the German solar market.
Struggling next-generation energy company SolarEdge Technologies (SEDG 8.55%) gave investors a reason to be sunny and cheerful on Thursday with its latest news. The company announced it was shutting down one of its less significant businesses, and the market reacted by sending the stock price nearly 9% higher.
SolarEdge Technologies, Inc. SEDG shares are trading relatively flat on Thursday.
Solar stocks got a lot cheaper this week. You still shouldn't buy them.
SEDG reports a wider-than-expected third-quarter loss. Revenues decline 64% year over year.
Third-quarter loss was $15.31 per share, a much wider loss than expected, impacted by $1 billion in write downs.
After the close of Wednesday's regular session, leading solar inverter system supplier SolarEdge Technologies reported another set of disappointing quarterly results. While revenues came in at the very low end of the previously provided guidance range, margins and inventory levels were impacted by an eye-catching $1.025 billion in impairment charges. Elevated cash usage continued during the quarter, thus resulting in an additional $100+ million reduction of the company's net cash position.
SolarEdge Technologies (SEDG) came out with a quarterly loss of $15.33 per share versus the Zacks Consensus Estimate of a loss of $1.55. This compares to loss of $0.55 per share a year ago.
The latest trading day saw SolarEdge Technologies (SEDG) settling at $16.89, representing a +0.72% change from its previous close.
Recently, shares of leading solar inverter system supplier SolarEdge Technologies, Inc. have deteriorated to new multi-year lows. With the company's core European market plagued by weak customer confidence, regulatory uncertainties, and competitive pressures, investors are heading for the exits. On Tuesday, competitor Enphase Energy reported disappointing Q3 results and provided a weak near-term outlook, with Europe expected to deteriorate even further.