Stock Track | SolarEdge Plummets 5.05% Intraday on Weak Q2 Revenue Guidance and Multiple Sell Ratings

Stock Track
May 08

SolarEdge Technologies (SEDG) stock plummeted 5.05% during Thursday's intraday trading session, as the company issued second-quarter revenue guidance that fell short of market expectations and faced multiple analyst downgrades.

The solar technology company projected Q2 revenue in the range of $325 million to $355 million, with the consensus estimate standing at $340.29 million. This guidance appears to have disappointed investors who were expecting stronger performance from the company.

Adding to the downward pressure, several major financial institutions maintained or reiterated sell ratings on SolarEdge. Goldman Sachs reiterated its Sell rating with a price target of $31, while BMO Capital maintained a Sell rating with a $34 price target. RBC Capital also adjusted its price target downward to $30 from $32 while maintaining a Sector Perform rating, indicating ongoing concerns about the company's prospects amid demand headwinds in the solar sector.

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