SolarEdge Stock Surges Another 11% on Earnings and Upgrades
Shares of SolarEdge Technologies (NASDAQ: SEDG) finished trading on Thursday up 11.25%. That makes two days in a row the renewable energy electronics manufacturer's stock delivered a double-digit gain.
Wednesday, SolarEdge shares climbed almost 18% after Enphase Energy (NASDAQ: ENPH), which makes similar components for the renewable energy industry, reported fourth-quarter results that far exceeded expectations. That caused Wall Street analysts to raise their price target for SolarEdge, which benefits from the same market conditions driving Enphase's results.
Today's jump came after SolarEdge reported its own fourth-quarter results after market close Wednesday, crushing expectations and resulting in another analyst upgrade.
Source Fool.com
