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The Key Takeaways
- SolarEdge Technologies’ shares rose after Goldman Sachs analyst reportedly upgraded the company twice.
- The analysts reportedly said concerns over SolarEdge's debt may be overblown and that a recent restructuring may improve its product mix.
- SolarEdge’s stock has fallen nearly 85% since 2024, despite the Tuesday gains.
SolarEdge Technologies’ (SEDG), shares rose Tuesday, after Goldman Sachs analysts reportedly upgraded the maker of solar equipment twice.
Goldman bumped its rating up to "buy" from "sell" and raised its price target to $19 from $10, according to Investor's Business Daily. It’s 29% more after SolarEdge surged 20 percent intraday on Wednesday to reach $14.78. The stock, however, is expected to fall by nearly 85% between now and 2024.
SolarEdge has a $350 million debt, according to the firm. “overblown,” Report said. SolarEdge reported in June that one of their customers had filed for Chapter 7 bankruptcies and was likely not going to be able pay the $11.4 million.
SolarEdge shut down its Energy Storage division last month. It claimed that this move would allow the company to save $7.5M in operational expenses by the end of 2025. IBD reports that Goldman stated the restructuring will allow SolarEdge to better its product mix.
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