By Ben Glickman
Solar stocks traded lower after home-solar company SolarEdge warned of slower installations and inventory buildup.
SunRun was down 7.4% after-hours and 8.5% in regular trading Thursday. First Solar sank 4.6% after-hours, while SunPower and Sunnova Energy also logged declines after the close.
SolarEdge, a residential solar power company, on Thursday slashed its third- and fourth-quarter revenue guidance after it saw more cancellations and pushouts of existing orders in Europe in the third quarter.
J.P. Morgan analysts said in a research note Thursday that residential solar is likely to remain subdued and channel inventories will build up. Solar installers are facing strong headwinds from higher interest rates.
Write to Ben Glickman at [email protected]
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