Why SolarEdge Stock Is Tanking After-Hours
Portfolio Pulse from Erica Kollmann
SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares are trading lower after-hours following the announcement of a $300 million private offering of convertible senior notes due 2029. The stock has been down over 30% in the past month, with 23.44% of shares sold short. Analysts have mixed ratings with an average 12-month price target of $68.70.

June 24, 2024 | 8:38 pm
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SolarEdge Technologies announced a $300 million private offering of convertible senior notes due 2029, causing shares to drop 15.79% after-hours. The stock has been down over 30% in the past month, with a significant portion of shares sold short. Analysts have mixed ratings with an average 12-month price target of $68.70.
The announcement of a $300 million private offering of convertible senior notes due 2029 has led to a significant after-hours drop in SolarEdge's stock price. The stock has already been under pressure, down over 30% in the past month, and the high percentage of shares sold short indicates bearish sentiment. Analysts have mixed ratings, but the immediate market reaction is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100