SolarEdge Technologies Stock Sliding on Downgrade

SolarEdge Technologies Inc (NASDAQ:SEDG) stock sports a 4.6% premarket loss, after a Jefferies downgrade to "underperform" from "hold," and price-target cut from $27 to $17. The analyst in question noted muted demand, high inventory levels, and slower growth prospects in Europe. The solar stock is down 76.6% in 2024 and 84.4% over the last 12 months. Despite yesterday seeing its best day since Aug. 23 with a 11.4% gain, the security is still down 13.1% this quarter. Set to open around $20.95, SEDG is also n ...