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Enphase Energy, Inc. (ENPH) - free report >>
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Enphase Energy, Inc. (ENPH) - free report >>
SolarEdge Technologies, Inc. (SEDG) - free report >>
Why Solar Energy Stocks are Jumping on Tuesday
Some of the biggest names in the solar energy market are surging on Tuesday. SolarEdge Technologies (SEDG - Free Report) , Enphase Energy (ENPH - Free Report) , and Blink Charging (BLNK - Free Report) were all up 19.3%, 12.5%, and 13.4%, respectively, in midday trading.
What sent these stocks higher?
Well, a few things. SolarEdge just posted blowout second quarter earnings of $0.97 per share and revenue of $331.8 million that also handily beat expectations. Plus, its Q3 guidance is much better than analysts’ previous forecasts.
These numbers are a good sign for Enphase, which reports earnings today.
Another thing driving these stocks is news from Blink. It recently announced a deal with real estate services firm Cushman & Wakefield (CWK - Free Report) to market and potentially deploy Blink’s level 2 fast-charging stations.
Overall, investors are optimistic about solar energy stocks and shares are up as a result.
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