Why Enphase Earnings Have SolarEdge Stock Surging Today
Shares of SolarEdge Technologies (NASDAQ: SEDG) are up 12.3% at 12:41 p.m. EDT on May 6, following the first-quarter earnings release from Enphase Energy (NASDAQ: ENPH) yesterday afternoon. Enphase reported sales more than doubled in the first quarter, and even with an expected big sequential decline in the second quarter, the company still expects sales to come in close to the $134 million it generated in last year's second quarter.
SolarEdge and Enphase are in a unique position right now, as the two main suppliers of power electronics for solar panels used in commercial and residential distributed solar installations in the U.S. and a few other parts of the world. They have established a massive head start over the competition, meeting key U.S. electrical code requirements that have pushed other manufacturers to exit the U.S. market completely for now.
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Source Fool.com
