Why Investors Are Selling SolarEdge Stock
Shares of SolarEdge (NASDAQ: SEDG), one of the biggest names in solar-power inverters, tumbled 3.9% through 10:55 a.m. EST on Tuesday as stock markets reopened after the Christmas holidays. You can probably blame Daiwa Securities for that.
On Friday, the Tokyo investment bank announced it was initiating coverage of SolarEdge stock with a neutral rating, while initiating coverage of SolarEdge's biggest rival, Enphase Energy (NASDAQ: ENPH), with an outperform rating, reports StreetInsider.com.
The economy, in general, is looking "dour" right now, says Daiwa, but prospects still look bright in the solar industry. For this reason, Daiwa is looking for ways to invest in solar growth, especially with companies that can grow market share and gross profit margins.
Source Fool.com
