Here's Why Shares of SolarEdge Climbed 27% in May
Continuing the upward trajectory which they experienced in April, shares of SolarEdge Technologies (NASDAQ: SEDG) bounded 27% higher in May, according to data from S&P Global Market Intelligence. In addition to the company's strong Q1 earnings report, several positive nods from Wall Street motivated investors to pick up shares.
Reporting a company record for quarterly revenue, SolarEdge booked sales of $431.2 million in the first quarter of 2020, representing a year-over-year increase of 58.6%. Elsewhere on the income statement, investors found that SolarEdge broke another company record, $67.8 million, for operating income in a quarter. But wait, there's more. When examining the company's cash flow in Q1, investors found a third company record broken: cash generated from operating activities. That's right -- SolarEdge reported an all-time best $107.7 million in operating cash flow in Q1.
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Source Fool.com
