Over the last trading session, shares of Solaredge Technologies (SEDG)were up 2%, or $2.07 a share to $108.10. Year over year, the stock is now up nearly 200%. That’s double the return of the Invesco Solar ETF (TAN). It also beats the S&P 500 return of 34%.
SolarEdge Technologies, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform. The company’s products are used in a range of solar market segments, such as residential, commercial, and small utility-scale solar installations.
It also provides pre-sales support, ongoing trainings, and technical support and after installation services; and lithium-ion cells, batteries, and energy storage solutions for various industries, including energy storage systems, residential and commercial solar systems, uninterruptible power supplies, electric vehicles, aerospace, marine, and others.
In recent days, the company announced its single phase inverter with HD-Wave technology received JET certification (Japan Electrical Safety and Environment Technology Laboratory). Designed to comply with Japanese market requirements, the inverter is available for low-voltage commercial and residential PV installations. The JET certification extends for five years and covers the new anti-islanding function requirements for multiple inverters and reactive power oscillation suppression.
“SolarEdge is dedicated to growing our footprint in the Japanese PV market and we aim to support the country in its local transition to solar energy by introducing innovative and safe PV solutions. As part of this effort, we are pleased to offer our JET-certified inverter with HD-Wave technology to the PV market in Japan,” stated Daniel Huber, SolarEdge’s Vice President and General Manager of Japan and Australia. “The opening of a new technical evaluation center will further this effort by enabling us to more quickly bring new solutions to market.”
SEDG is also set to release its fourth quarter and yearly earnings results on Wed, Feb. 19, 2020.
In its last earnings report, SEDG posted EPS of $1.21, which beat estimates for $1.19. That’s also a marked year over year improvement from 86 cents per share.
As of this writing, Ian Cooper does not have a position in shares of SEDG.
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