SolarEdge Technologies, Inc. posted its second quarter earnings that surpassed analysts’ expectations.
The solar power equipment maker’s non-GAAP earnings came in at $1.28 per share, compared to analysts’ estimate of 89 cents a share (based on FactSet survey). Earnings in the year-ago quarter were 70 cents a share.
Revenue increased to $480.1 million in the quarter vs. year-ago quarter’s $331.9 million.
CEO Zvi Lando mentioned “record revenues” in both solar and non-solar businesses, and continued solid demand in various geographies and across the different segments.
SolarEdge expects third-quarter revenues in the range of $520 million to $540 million.
The RSI Oscillator for SEDG moved into overbought territory on October 23, 2024. Be on the watch for a price drop or consolidation in the future -- when this happens, think about selling the stock or exploring put options.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 13 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where SEDG advanced for three days, in of 287 cases, the price rose further within the following month. The odds of a continued upward trend are .
SEDG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Momentum Indicator moved below the 0 level on October 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SEDG as a result. In of 81 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for SEDG turned negative on October 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 53 similar instances when the indicator turned negative. In of the 53 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SEDG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for SEDG entered a downward trend on October 23, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows