Here's Why SolarEdge Technologies Shares Are Moving

SolarEdge Technologies Inc SEDG shares are trading lower by 4.1% at $301.84 after the company priced its common stock offering of 2 million shares at $295 per share.

SolarEdge intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions. SolarEdge however added the company does not have agreements or commitments for any acquisitions at this time.

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SolarEdge Technologies designs, develops and sells direct current optimized inverter systems for solar photovoltaic installations. 

SolarEdge Technologies has a 52-week high of $389.71 and a 52-week low of $199.33.