What happened
Shares of SolarEdge Technologies (NASDAQ: SEDG) rose 39.4% in February of 2018, according to data from S&P Global Market Intelligence . The maker of power optimizers and inverters for solar power systems crushed Wall Street's targets in a mid-month earnings report.
So what
SolarEdge shares raced 23% higher on February 15 alone , launched skyward by a strong fourth-quarter report. Top-line sales grew 70% larger year over year to land at $189 million, while earnings nearly tripled to $0.85 per share. Your average analyst would have settled for earnings of $0.65 per share on revenues near $181 million.
Now what
At this point, SolarEdge shares have gained a mind-boggling 263% over the last 52 weeks, and the company still seems to have a healthy supply of rocket fuel in its tanks. Management expects first-quarter sales to rise roughly 78% year over year, stopping in the neighborhood of $205 million.
This company's unique take on solar panel management and power distribution is producing strong business results even in a tough era of cut-throat competition and rising solar panel tariffs. Foolish solar power guru Travis Hoium calls SolarEdge a stock to watch in the power inverter space, and I would have to agree.
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Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
