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SolarEdge Tetechnologies Inc. (SEDG) Stock is Rising Over 10%, Here is What You Need to Know

SolarEdgeTetechnologiesInc. (NASDAQ: SEDG) is up 10.76% in premarket to trade at the price of $285.45.

Second Quarter 2021 Summary:

SolarEdge Technologies, Inc. is a worldwide leading corporation in smart energy technology. On the 3rd of August 2021, it revealed its financial results for the second quarter ended 30th of June 2021. The Company announced revenues of $480.1 million, up 18% from $405.5 million in the prior quarter and up 45% from $331.9 million in the same quarter the previous year.

Sunnova, National Grid, and SolarEdge Partnership:

Earlier on 27 July 2021, Sunnova Energy International Inc. (NYSE: NOVA), the main U.S. residential solar and storage service provider, has partnered with National Grid (NYSE: NGG) and SolarEdge Technologies Inc. (NASDAQ: SEDG). The goal was to manipulate its fleet of solar and storage possessions in New England to improve energy quality in National Grid’s service area. Sunnova’s aggregated residential solar and storehouse delivers over 150 GWh of clean and reliable energy annually to New England’s homeowners.

First Quarter Report 2021 Results:

Previously, on 4th May 2021, the company published its financial results for the first quarter ended 31s of March 2021. The company disclosed revenues of $405.5 million, 13% up from $358.1 million in the previous quarter and 6% down from $431.2 million in the same quarter last year.

Appointment of Mr. Betsy:

On 20th April 2021, the company declared the assignment of Ms. Betsy as a member of the board of directors. The nomination was approved by the board of directors and will be effective from June 2021.

Supply agreement with Sunrun:

Earlier on 23 Feb 2021, SEDG proclaimed that it has embarked on a strategic supply treaty with Sunrun, a central U.S. supplier of residential solar, battery, and other energy services. According to the pact, Sunrun will deliver future generation PV inverters and Energy Hubs for residential clients.

Fourth Quarter 2020 Highlights:

On the 17th Feb 2021, the company published its financial outcomes for the fourth quarter and year ended December 31, 2020. The company recorded revenues of $358 million, 6% up from $338.1 million in the previous quarter and 14% down from $418.2 million in the same quarter last year.

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