SolarEdge Stock Falls As Analysts React To $300 Million Private Offering
Portfolio Pulse from Erica Kollmann
SolarEdge Technologies (NASDAQ: SEDG) announced a $300 million private offering of convertible notes, leading to a significant drop in its stock price. Analysts from Goldman Sachs, Truist, JP Morgan, Scotiabank, and Canaccord Genuity updated their ratings and price targets, reflecting concerns over the company's lowered free cash flow guidance for Q2.
June 25, 2024 | 4:23 pm
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SolarEdge Technologies announced a $300 million private offering of convertible notes, significantly lowering its Q2 free cash flow guidance. Analysts from multiple firms updated their ratings and price targets, leading to a 20.4% drop in the stock price.
The announcement of a $300 million private offering and significantly lowered Q2 free cash flow guidance has led to a negative outlook from analysts. Multiple firms have updated their ratings and price targets, contributing to a 20.4% drop in the stock price.
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