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Why SolarEdge Stock Soared 17% After Earnings

·2 min read
Why SolarEdge Stock Soared 17% After Earnings
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Shares of solar power inverter maker SolarEdge Technologies (NASDAQ: SEDG) are racing ahead 17.2% as of 1 p.m. EDT Tuesday, after the company reported a sizable earnings beat yesterday evening. Heading into earnings, analysts had projected that SolarEdge would earn $1.12 per share on under $455 million in revenue for its fiscal second quarter. In fact, SolarEdge earned $1.28 per share, and on sales of more than $480 million.