Why SolarEdge Stock Crashed After Earnings
SolarEdge is working on a turnaround -- but it's a work in progress.
Overview
SolarEdge Technologies (NASDAQ: SEDG) stock, the Israeli maker of power inverters for solar panels, short-circuited despite delivering a strong earnings beat last night.
Heading into the report, analysts expected SolarEdge to report a loss of $0.02 per share, but the company delivered a pleasant surprise instead: a $0.05 per share profit. Sales likewise didn't disappoint, with SolarEdge edging past a $342 million forecast to report sales of $346.2 million.
Details
Despite all this good news, SolarEdge stock sold off today and is down 24.6% through 12:45 p.m. ET. Why?
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.