Sunrun Inc (NASDAQ: RUN) shares are down by 8.5% to $9.68 on Friday morning. This decline is amid broader weakness in solar-related stocks, which are reacting to the weak preliminary third-quarter outlook provided by SolarEdge Technologies. SolarEdge also adjusted its non-GAAP gross margin guidance downward.
What Happened?
The company revised its third-quarter revenue forecast, lowering it from an initial range of $880-920 million to $720-730 million, falling short of the consensus estimate of $909.02 million. They also reduced the adjusted gross margin from ...