2024-03-20 03:11:59 ET
Summary
- SolarEdge's revenues have plummeted and margins have been severely impacted, raising questions about the quality of its business model and growth story.
- The stock is cheap, but the company's closest competitor, ENPH, has shown better financial results and execution.
- Management's strategy of prioritizing share repurchases during a difficult period is surprising.
- I am downgrading the stock from "strong buy" to "buy."
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For further details see:
SolarEdge: Aggressive Share Repurchases Amidst Brutal Solar Bear Market