Why SolarEdge Technologies Stock Gained 27.5% Last Month
Shares of SolarEdge (NASDAQ: SEDG) rose 27.5% in February 2020, according to data from S&P Global Market Intelligence. The maker of power optimizers, inverters, and monitoring systems for solar power arrays crushed Wall Street's estimates in last month's fourth-quarter report, sending share prices more than 30% higher in the span of two days.
Sector peer Enphase Energy (NASDAQ: ENPH) started the party with its own fourth-quarter report, doubling its full-year sales and multiplying its operating cash flows nearly ninefold.
SolarEdge followed suit the next day, delivering fourth-quarter results far ahead of Wall Street's expectations. Your average analyst had been looking for earnings near $0.25 per share on sales in the neighborhood of $414 million. SolarEdge's earnings rose 161% to $1.65 per share while revenue increased by 59% to $418 million.
Source Fool.com
