SolarEdge Stock Plunges After The Close: What's Going On?
Portfolio Pulse from Adam Eckert
SolarEdge Technologies Inc's shares fell in after-hours trading following the release of its Q2 financial results and weak Q3 guidance. Despite beating estimates for Q2 revenue and EPS, the company's shares dropped due to a lower than expected Q3 revenue forecast. The company expects Q3 revenue to be between $880 million and $920 million, compared to estimates of $1.05 billion.
August 04, 2023 | 10:32 am
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NEGATIVE IMPACT
SolarEdge's stock price is likely to be negatively impacted in the short term due to the lower than expected Q3 guidance.
Despite beating Q2 estimates, SolarEdge's shares fell due to a lower than expected Q3 revenue forecast. This weak guidance is likely to negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100