What's Going On With SolarEdge Technologies Stock Thursday?
Portfolio Pulse from Adam Eckert
SolarEdge Technologies Inc (NASDAQ:SEDG) reported a YoY decrease in earnings and weak top-line results, leading to a drop in its shares. The company's Q3 revenue decreased 27% YoY to $725.3 million, missing estimates of $768.38 million. SolarEdge reported a quarterly loss of 55 cents per share, compared to 91 cents in earnings last year. The company expects Q4 revenue to be between $300 million and $350 million. Multiple analysts downgraded the stock following the results.
November 02, 2023 | 1:30 pm
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SolarEdge's Q3 results missed estimates, leading to a drop in its shares and multiple analysts downgrading the stock.
SolarEdge reported a YoY decrease in earnings and weak top-line results, missing estimates. This led to a drop in its shares and multiple analysts downgrading the stock, indicating a negative short-term impact on the stock.
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