Why SolarEdge Technologies Shares Popped 26.2% Today
Shares of solar inverter manufacturer SolarEdge Technologies (NASDAQ: SEDG) jumped as much as 26.2% on Wednesday after the company reported second-quarter earnings. Shares were trading near their high at 12:10 p.m. EDT, up 23.9% on the day.
Revenue was up 20% to $325 million, and net income popped 74% to $33.1 million, or $0.66 per share. On a non-GAAP (adjusted) basis, earnings were $49.3 million, or $0.94 per share.
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