SolarEdge (SEDG) sinks on convertible notes offering and guidance; analysts weigh in

GLJ Research on SolarEdge Technologies (SEDG): 'forward guidance that will likely disappoint'

GLJ Research analyst Gordon Johnson reiterated a Buy rating and {REMOVEPT} price target on SolarEdge Technologies (NASDAQ: SEDG).

The analyst comments "SolarEdge Announces it is Raising $300mn via Senior Convertible Notes due 2029 and Provides (disappointing) 2Q24E Free-Cash-Flow Guidance. So, yesterday, after the close, via an 8-K filing, SEDG made three key announcements, including: (1) it is raising $300mn,... More

Midday movers: Nvidia, Carnival Rise; SolarEdge, Pool fall

(Updated - June 25, 2024 11:41 AM EDT)

Investing.com -- U.S. stock futures rose Tuesday, with the tech stocks bouncing after the previous session's sharp losses.

Here are some of the biggest U.S. stock movers today:

Nvidia (NASDAQ: NVDA) stock rose 5.5%, bouncing after the chipmaker slumped almost 7% during the last session, moving its market cap back above the $3 trillion threshold.

SolarEdge (NASDAQ:... More

SolarEdge Technologies (SEDG) PT Lowered to $46 at Scotiabank

(Updated - June 25, 2024 7:04 AM EDT)

Scotiabank analyst Tristan J. Richardson lowered the price target on SolarEdge Technologies (NASDAQ: SEDG) to $46.00 (from $72.00) while maintaining a Sector Perform rating.

The analyst commented: "SolarEdge reconfirmed 2Q guidance for topline ($265M midpoint), Non-GAAP GM% (-2%),... More

SolarEdge Technologies (SEDG) PT Lowered to $49 at JPMorgan

JPMorgan analyst Mark Strouse lowered the price target on SolarEdge Technologies (NASDAQ: SEDG) to $49.00 (from $59.00) while maintaining a Overweight rating.... More

Citi on SolarEdge Technologies (SEDG): 'We expect a negative reaction to the announcements'

Citi analyst Vikram Bagri reiterated a Neutral rating and $71.00 price target on SolarEdge Technologies (NASDAQ: SEDG).

The analyst comments "In a busy afternoon, SEDG: (1) announced plans for a private offering of $300mm worth of Convertible Senior Notes due 2029 which will partially be used to redeem... More

SolarEdge Technologies (SEDG) PT Lowered to $38 at Canaccord Genuity

(Updated - June 25, 2024 5:52 AM EDT)

Canaccord Genuity analyst Austin Moeller lowered the price target on SolarEdge Technologies (NASDAQ: SEDG) to $38.00 (from $58.00) while maintaining a Hold rating.

The analyst commented: "We are maintaining our Hold rating on SEDG and... More

SolarEdge Technologies (SEDG) January 95 puts active into $300M convertible senior notes offering

SolarEdge Technologies (NASDAQ: SEDG) 30-day option implied volatility is at 78; compared to its 52-week range of 41 to 105 into announces $300M convertible senior notes offering. January 95 puts active on 410 contracts trading at $62.20 into the bell.

After-hours movers: Birkenstock, SolarEdge, MicroAlgo and more

After-Hours Stock Movers:

SolarEdge Technologies (NASDAQ: SEDG) fell 11% after it announced its intention to offer $300 million aggregate principal amount of Convertible Senior Notes due 2029.

Wolfspeed (NYSE: WOLF)... More

SolarEdge Technologies (SEDG) Announces Proposed Private Offering of $300 million of Convertible Senior Notes

SolarEdge Technologies, Inc. (Nasdaq: SEDG) (SolarEdge) today announced its intention to offer, subject to market conditions and other factors, $300 million aggregate principal amount of Convertible Senior Notes due 2029 (the Notes) in a private offering (the Offering) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). In connection with the Offering, SolarEdge expects to grant the initial purchasers of the Notes a 13-day option to purchase up to an additional $45 million aggregate principal amount of the Notes on the same terms and... More