SolarEdge Technologies | $SEDG Stock | Shares Shoot Up on Impressive Q2 Earnings


SolarEdge Technologies, Inc. (NASDAQ: SEDG)


SolarEdge Technologies, Inc. (SEDG), a global company that develops optimized inverter systems for solar photovoltaic installations yesterday reported their second quarter 2017 financial results.

SEDG reported second quarter Non- GAAP net income of $25.8 million with adjusted second quarter earnings of  $0.55 per share. SolarEdge Technologies also reported second quarter revenues of $136.1 million.   


SolarEdge Technologies, Inc. CEO’s  Comments

“The second quarter of 2017 was a record quarter for us with record revenues, record non-GAAP profitability and record cash generation,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “Our sales in markets outside of the United States continued to grow this quarter further strengthening our diversified revenue base. Our continued cost reduction led by the HD-wave roll out allowed us to further increase profitability and cash flow generation. This quarter we also unveiled the next generation power optimizer, large capacity commercial inverter and announced the launch of the first PV inverter-integrated EV (electric vehicle) charger demonstrating our continued innovation and technological leadership.”  Business Wire


SEDG Technical Analysis

SolarEdge Technologies

SEDG opened trading yesterday at $22.30 which was exactly the same as the previous day’s trading close. SEDG closed trading yesterday at $22.85 and spiked up after market to $26.85, equivalent to a 18% increase from the closing price. Taking a look at the daily chart we can see the last time SEDG traded above these levels we have to go back to May 2nd when it traded at lows of $26.79.

Taking a closer look at the daily chart we can see that before the spike up SEDG had already been in an overall upward trend dating back to February 6th when it traded at $12.30. SEDG has a float of 23.75 million shares and traded 1.56 times the normal daily trading volume on Wednesday.

For day trading purposes, I would like to see SEDG open trading on Thursday above $25.50 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.30 from my entry position fearing anything more than that and the stock would start to fill in the gap up.


Company Profile

SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, Europe, the United States, and internationally.

The company’s DC optimized inverter systems include power optimizers, inverters, and cloud-based monitoring software. Its products are used in a range of solar market segments, including residential, commercial, and small utility-scale solar installations.

The company sells its products directly to solar installers, as well as engineering, procurement, and construction firms; and indirectly to solar installers through distributors and electrical equipment wholesalers, as well as PV module manufacturers. SolarEdge Technologies, Inc. was founded in 2006 and is headquartered in Herzliya, Israel.  Yahoo Finance




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