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.
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.
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.