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SolarEdge Technologies (SEDG) Stock Slides as Market Rises: Facts to Know Before You Trade
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SolarEdge Technologies (SEDG - Free Report) ended the recent trading session at $20.13, demonstrating a -0.64% swing from the preceding day's closing price. This change lagged the S&P 500's 0.9% gain on the day. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%.
Prior to today's trading, shares of the photovoltaic products maker had lost 1.94% over the past month. This has lagged the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SolarEdge Technologies in its upcoming earnings disclosure. The company is predicted to post an EPS of -$1.62, indicating a 194.55% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $269.85 million, indicating a 62.79% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$6.21 per share and revenue of $1.04 billion, indicating changes of -250.73% and -64.92%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.19% higher. Right now, SolarEdge Technologies possesses a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SolarEdge Technologies (SEDG) Stock Slides as Market Rises: Facts to Know Before You Trade
SolarEdge Technologies (SEDG - Free Report) ended the recent trading session at $20.13, demonstrating a -0.64% swing from the preceding day's closing price. This change lagged the S&P 500's 0.9% gain on the day. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%.
Prior to today's trading, shares of the photovoltaic products maker had lost 1.94% over the past month. This has lagged the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SolarEdge Technologies in its upcoming earnings disclosure. The company is predicted to post an EPS of -$1.62, indicating a 194.55% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $269.85 million, indicating a 62.79% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$6.21 per share and revenue of $1.04 billion, indicating changes of -250.73% and -64.92%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.19% higher. Right now, SolarEdge Technologies possesses a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.