SolarEdge Technologies, Inc. - Common Stock (SEDG)
13.20
-0.11 (-0.80%)
SolarEdge Technologies is a leading provider of photovoltaic inverter solutions, which optimize the energy output of solar panels
The company focuses on enhancing the efficiency of solar energy systems by enabling better performance monitoring and control. In addition to inverters, SolarEdge also offers innovative technology and services that include energy storage solutions and electric vehicle charging systems, contributing to the seamless integration of renewable energy sources into homes and businesses. With a commitment to sustainability, SolarEdge plays a key role in advancing the adoption of solar energy worldwide.
White House freezes $3 trillion in federal funding, sparking legal and political showdown. Industries like education, healthcare, and clean energy at risk.
Shares of solar stocks, including First Solar and SolarEdge Technologies were volatile Wednesday as investors reacted to President Trump's newly signed executive orders promoting fossil fuels and reversing climate-focused policies.
SolarEdge’s stock price has taken a beating over the past six months, shedding 45.2% of its value and falling to $14.69 per share. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Let’s dig into the relative performance of TPI Composites (NASDAQTPIC) and its peers as we unravel the now-completed Q3 renewable energy earnings season.
Shares of solar power systems company SolarEdge (NASDAQSEDG)
fell 13.1% in the afternoon session after Citi analyst Vikram Bagri downgraded the stock's rating from Hold to Sell and lowered the price target from $12 to $9. Bagri highlighted concerns over SEDG's "stubbornly high" operating expenses, despite recent restructuring efforts, including the elimination of 400 jobs.
SolarEdge recently announced its fourth layoff in the past 12 months as it looks to trim operating costs. This contributed to Morgan Stanley analysts turning “modestly more positive” on the stock.
Shares of solar power systems company SolarEdge (NASDAQSEDG)
jumped 13.1% in the morning session after Goldman Sachs raised the stock's price target from $19 to $21 and reaffirmed its Buy rating. The firm's improved rating was based on several company initiatives that could improve the outlook for SEDG.
SolarEdge Technologies plans to lay off 400 employees, expects pre-tax charges of $3-5 million, and signed safe harbor agreements with major US solar installers.
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The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how renewable energy stocks fared in Q3, starting with NuScale (NYSESMR).
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Shares of solar power systems company SolarEdge (NASDAQSEDG)
jumped 17.6% in the morning session after the stock received a double rating upgrade from Goldman Sachs. The firm upgraded Solar Edge from Sell to Buy and raised the stock's price target from $10 to $19. The new price target implies a potential 50% upside from where shares traded before the upgrade was announced.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the renewable energy industry, including Blink Charging (NASDAQBLNK) and its peers.
