The IBD SmartSelect Composite Rating for SolarEdge Technologies stock rose from 94 to 96 Tuesday. The solar stock has 89 Relative Strength Rating.
The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
SolarEdge Technologies stock is currently forming a cup with handle, with a 314.62 buy point. See if the stock can break out in heavy trade at least 40% above average. But note that it's a later-stage base, and such bases are more prone to failure.
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The solar stock has a 91 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 91% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q1, the solar company reported 22% EPS growth. Sales growth climbed 62%, up from 54% in the prior quarter. That marks one quarter of rising revenue increases. The company's next quarterly report is expected on or around Aug. 2.
SolarEdge Technologies stock earns the No. 4 rank among its peers in the Energy-Solar industry group. Daqo New Energy is the No. 1-ranked stock within the group.
