SolarEdge Technologies (SEDG) closed at $75.51 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500's daily gain of 0.06%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.Coming into today, shares of the photovoltaic products maker had lost 5.96% in the past month. In that same time, the Oils-Energy sector lost 1.2%, while the S&P 500 gained 6.45%.Analysts and investors alike will be keeping a close eye on the performance of So ...

The latest trading session saw SolarEdge Technologies (SEDG) ending at $68.01, denoting a -1.82% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw an increase of 1.74%.Prior to today's trading, shares of the photovoltaic products maker had lost 16.34% over the past month. This has lagged the Oils-Energy sector's loss of 0.76% and the S&P 500's gain of 2.93% in that time.The investm ...

SolarEdge, a company that makes inverters for solar panels, will shed about 16% of its workers. The company said Sunday roughly 900 people will lose their jobs in a restructuring plan "designed to reduce operating expenses and align its cost structure to current market dynamics." It called industry conditions "challenging" in a filing with the Securities and Exchange Commission (SEC).The layoffs will occur over the first six months of the year, according to SolarEdge. More than half of the affected employee ...

Key TakeawaysSolarEdge shares rose after it said it was slashing its workforce to cut costs amid a slump in demand for solar products.The maker of solar power equipment is laying off 900 workers, or 16% of its workforce.CEO Zvi Lando said the job cuts and other cost reductions were needed for SolarEdge to align with current market conditions.SolarEdge Technologies (SEDG) shares gained over 3% in intraday trading Monday after the maker of solar power equipment said it would slash its workforce to cut costs a ...

SolarEdge (NASDAQ:SEDG) layoffs are a hot topic among traders on Monday as the solar photovoltaic company reveals plans to cut 16% of its workforce.According to a press release from SolarEdge, these layoffs will affect 900 of the company’s employees. That includes 500 workers from across its various manufacturing sites.SolarEdge notes that these layoffs are part of its efforts to reduce operating expenses while bettering aligning its cost structure to current market demands. This comes after the company exi ...

SolarEdge Technologies Inc. on Sunday said it will lay off about 16% of its workforce, about 900 employees, as part of a restructuring to slash operating costs. “We have made a very difficult, but necessary decision to implement a workforce reduction and other cost-cutting measures in order to align our cost structure with the rapidly changing market dynamics,” Chief Executive Zvi Lando said in a statement. SolarEdge said about 500 of the layoffs will occur at its manufacturing sites. The Israel-based so ...

SolarEdge Technologies (SEDG) will cut 900 jobs, or 16% of its workforce, the solar power company announced Sunday, as demand continues to plunge.X The Israeli solar power inverter maker will cut 550 jobs in its home count.SolarEdge previously forecast Q4 2023 revenue to come in at $325 million, down 55% vs. Q3 and 64% vs. a year earlier.Analysts currently see Q4 revenue of $371 million, with SolarEdge losing $1 a share, according to the FactSet consensus. SolarEdge lost 55 cents a share in Q3 after making ...

MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today a restructuring plan that includes workforce reduction designed to reduce operating expenses and align its cost structure to current market dynamics. The workforce reduction impacts approximately 16% of the SolarEdge global workforce, or approximately 900 employees, of which approximately 500 are from the Company’s various manufacturing sites. The reduct ...

In the latest trading session, SolarEdge Technologies (SEDG) closed at $69.11, marking a -0.23% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.23%. Meanwhile, the Dow experienced a rise of 1.06%, and the technology-dominated Nasdaq saw an increase of 1.7%.Shares of the photovoltaic products maker witnessed a loss of 28.65% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 4.69% and the S&P 500's gain of 0.94%.Market parti ...

SolarEdge Technologies (SEDG) closed at $78.54 in the latest trading session, marking a -1.31% move from the prior day. This change lagged the S&P 500's daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.Coming into today, shares of the photovoltaic products maker had gained 1.51% in the past month. In that same time, the Oils-Energy sector gained 3.47%, while the S&P 500 gained 2.9%.Market participants will be closely following th ...