Shares of SolarEdge Technologies fell by as much as 24.6% during midday trading on Wednesday after the company released its second-quarter earnings report. Although the company reported non-GAAP earnings per share of $0.05 (compared to an expected loss of $0.02) and revenue of $346.2 million (compared to an expected $342 million), its GAAP loss per share still reached $0.50. Furthermore, SolarEdge projected third-quarter sales to be between $310 million and $340 million, falling short of Wall Street's expectations of over $370 million, primarily due to weak demand in the U.S. residential sector.