On July 14, SolarEdge Technologies rose 8.11% in regular trading, trading at $56.29/share, with turnover of $50.47 million. The rally was driven by market reports that the US has implemented restrictive measures targeting Chinese photovoltaic inverters.
According to market intelligence, Chinese inverter manufacturers including Sungrow have been effectively blocked from the US market. As the leading domestic inverter company in the United States, SolarEdge stands to directly benefit from the expected market share transfer as competitors are forced to exit. Morgan Stanley had previously noted that despite an anticipated 25% decline in the US residential solar market, SolarEdge could gain share against the trend due to its exposure to the third-party ownership market segment.
SolarEdge designs, develops, and sells DC optimized inverter systems for solar PV installations worldwide. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations. It reported EPS of -$0.75 in its most recent quarterly earnings.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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