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Update: SolarEdge Technologies Shares Drop After Q3 Revenue Guidance Falls Short of Consensus

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(Updates with recent stock movement in headline and first paragraph.)

SolarEdge Technologies (SEDG) shares plunged more than 27% in afternoon trading on Wednesday after the company issued Q3 revenue guidance that fell short of analysts' consensus.

The company reported Q2 non-GAAP earnings Wednesday of $0.05 per diluted share, compared with an adjusted loss of $0.81 a year ago.

Two analysts polled by FactSet expected an adjusted loss of $0.27.

Revenue for the quarter ended June 30 was $346.2 million, up from $289.4 million a year earlier.

Analysts expected $341.1 million.

SolarEdge said it expects Q3 revenue in the range of $310 million to $340 million. Analysts are expecting $368.1 million.

Price: $35.40, Change: $-13.37, Percent Change: -27.41%

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