SolarEdge Technologies fell Wednesday, following its fourth-quarter financial results that missed on earnings but beat on revenue. SEDG stock was trading below it's 50-day moving average.
The company said adjusted earnings were $1.10 a share on revenue of $551.9 million for the period ended Dec. 31. Analysts expected SolarEdge to report earnings of $1.31 on revenue of $549.4 million.
SEDG stock fell 4.1% to 250.25, during morning trading on the stock market today.
SEDG Stock: Revenue Outlook Tops Estimates
The company expects first-quarter revenue in the range of $615 million to $645 million. That's above views for $578.6 million.
Israel-based SolarEdge supplies photovoltaic inverters for residential and commercial markets. Its products convert the direct current of a solar panel into alternating current.
"We are ending 2021 with record revenues for the quarter and for the year," said Chief Executive Zvi Lando, in written remarks with the SolarEdge earnings news release. He added: "The global demand for solar energy across all segments and geographies is extremely strong and generating unprecedented demand for our products."
Solar Earnings On Tap
Among other solar stocks, Enphase Energy reported fourth-quarter results on Feb. 8 that beat estimates. As a result, Enphase stock jumped 12% in reaction.
Meanwhile, SunPower will report fourth-quarter results late Wednesday. In October, SunPower announced restructuring plans to focus exclusively on residential solar. Additionally, the company set plans to sell its commercial and industrial business.
Also, Sunrun reports its quarterly results late Thursday. It's the largest residential solar, storage and energy services company in the U.S.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
