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SolarEdge Technologies (SEDG) Stock Moves -1.37%: What You Should Know
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In the latest market close, SolarEdge Technologies (SEDG - Free Report) reached $25.17, with a -1.37% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 2.32%. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Coming into today, shares of the photovoltaic products maker had lost 3.33% in the past month. In that same time, the Oils-Energy sector lost 8.99%, while the S&P 500 gained 1.79%.
The investment community will be paying close attention to the earnings performance of SolarEdge Technologies in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. In that report, analysts expect SolarEdge Technologies to post earnings of -$1.56 per share. This would mark a year-over-year decline of 159.54%. Meanwhile, the latest consensus estimate predicts the revenue to be $258.19 million, indicating a 73.95% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.66 per share and revenue of $1.32 billion. These totals would mark changes of -213.11% and -55.62%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 9.26% downward. SolarEdge Technologies is currently sporting a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 217, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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SolarEdge Technologies (SEDG) Stock Moves -1.37%: What You Should Know
In the latest market close, SolarEdge Technologies (SEDG - Free Report) reached $25.17, with a -1.37% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 2.32%. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Coming into today, shares of the photovoltaic products maker had lost 3.33% in the past month. In that same time, the Oils-Energy sector lost 8.99%, while the S&P 500 gained 1.79%.
The investment community will be paying close attention to the earnings performance of SolarEdge Technologies in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. In that report, analysts expect SolarEdge Technologies to post earnings of -$1.56 per share. This would mark a year-over-year decline of 159.54%. Meanwhile, the latest consensus estimate predicts the revenue to be $258.19 million, indicating a 73.95% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.66 per share and revenue of $1.32 billion. These totals would mark changes of -213.11% and -55.62%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 9.26% downward. SolarEdge Technologies is currently sporting a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 217, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.