Here's Why SolarEdge Stock Jumped 13% Today
Shares of SolarEdge Technologies (NASDAQ: SEDG) are up 12.5% in early afternoon trading on Feb. 19 following two pieces of positive -- at least indirectly -- news for the company. First up, SolarEdge peer Enphase Energy (NASDAQ: ENPH) reported its fourth-quarter results, beating the top end of the company's own guidance for the quarter and full-year 2020.
Let's start with Enphase's earnings report. Enphase -- which, like SolarEdge, makes power components that connect solar panels to the electrical grid -- reported revenue of $624 million in 2019, almost double its sales from the year before. Gross profit more than doubled to $221 million, and the company generated $139 million in operating cash, up an astounding 762% year over year.
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Source Fool.com
