SolarEdge Technologies (SEDG) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, SolarEdge Technologies (SEDG) closed at $19.80, marking a -1.32% move from the previous day. This move lagged the S&P 500's daily gain of 0.52%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 0.52%.
The photovoltaic products maker's stock has climbed by 20.87% in the past month, exceeding the Oils-Energy sector's gain of 5.34% and the S&P 500's gain of 5.95%.
Investors will be eagerly watching for the performance of SolarEdge Technologies in its upcoming earnings disclosure. In that report, analysts expect SolarEdge Technologies to post earnings of -$0.81 per share. This would mark year-over-year growth of 54.75%. In the meantime, our current consensus estimate forecasts the revenue to be $274.68 million, indicating a 3.5% growth compared to the corresponding quarter of the prior year.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of -$3.26 per share and revenue of $1.1 billion. These results would represent year-over-year changes of +85.82% and +18.19%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for SolarEdge Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.5% higher. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
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