Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stock futures traded lower this morning on Friday. Here are some big stocks recording losses in today’s pre-market trading session.
- SolarEdge Technologies, Inc. (NASDAQ: SEDG) shares tumbled 24.1% to $86.50 in pre-market trading after the company issued preliminary third-quarter revenue results below estimates and lowered its non-GAAP gross margin forecast. Deutsche Bank downgraded SolarEdge Technologies from Buy to Hold and lowered the price target from $300 to $150, while Roth MKM downgraded the stock from Buy to Neutral and cut the price target from $280 to $100.
- Enphase Energy, Inc. (NASDAQ: ENPH) shares fell 14.3% to $99.30 in pre-market trading in sympathy with SolarEdge after the company said its Q3 revenue, gross margin and operating income will be below the low end of its prior guidance range.
- SunPower Corporation (NASDAQ: SPWR) shares fell 8.4% to $5.10 in pre-market trading. JP Morgan recently maintained SunPower with an Underweight and lowered the price target from $9 to $6.
- Intuitive Surgical, Inc. (NASDAQ: ISRG) shares declined 8.1% to $251.50 in pre-market trading after the company reported mixed third-quarter financial results.
- MMTec, Inc. (NASDAQ: MTC) shares fell 7.8% to $1.90 in pre-market trading after jumping 51% on Thursday. MMTEC is scheduled to hold its 2023 annual meeting of shareholders on Nov. 10, 2023.
- Sunrun Inc. (NASDAQ: RUN) shares declined 7.8% to $9.75 in pre-market trading. Deutsche Bank downgraded Sunrun from Buy to Hold and lowered the price target from $27 to $15.
- Sunnova Energy International Inc. (NYSE: NOVA) shares fell 6.8% to $8.58 in pre-market trading. Deutsche Bank downgraded Sunnova Energy Intl from Buy to Hold and lowered the price target from $23 to $12.5.
- Canadian Solar Inc. (NASDAQ: CSIQ) shares fell 5.3% to $20.62 in pre-market trading. Canadian Solar is expected to report third-quarter results on Nov. 14, 2023.
- First Solar, Inc. (NASDAQ: FSLR) shares declined 5.2% to $144.00 in pre-market trading.
- WD-40 Company (NASDAQ: WDFC) shares fell 4.5% to $194.97 in pre-market trading. WD-40 reported in-line earnings for its fourth quarter, while sales topped estimates. The company, however, issued weak earnings forecast for FY24.
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