This is a positive move for the company's long-term prospects. Yet, near-term net bookings were lower than anticipated, and the book-to-bill ratio may drop as the company prioritizes margins over volume. The guidance for the fiscal year 2024 suggests a slight decline in average selling price per watt but anticipates cost reductions and gross margin expansion. While general and administrative expenses are forecasted to decrease, they are slightly above previous guidance, and capital expenditures are also higher than prior expectations. These factors contribute to the Hold rating, as they present a mixed outlook with potential risks and rewards balanced against each other. According to TipRanks, Bagri is an analyst with an average return of -24.8% and a 25.25% success rate. Bagri covers the Technology sector, focusing on stocks such as SolarEdge Technologies, First Solar, and SunPower.