Ion Asset Management Ltd. buys $16.2 Million stake in Solaredge Technologies Inc (SEDG)

Solaredge Technologies Inc (SEDG) : Ion Asset Management Ltd. scooped up 139,942 additional shares in Solaredge Technologies Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 925,929 shares of Solaredge Technologies Inc which is valued at $16.2 Million.Solaredge Technologies Inc makes up approximately 8.25% of Ion Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Cwa Asset Management Group boosted its stake in SEDG in the latest quarter, The investment management firm added 325 additional shares and now holds a total of 12,715 shares of Solaredge Technologies Inc which is valued at $222,640. Solaredge Technologies Inc makes up approx 0.22% of Cwa Asset Management Group’s portfolio. Spot Trading L.l.c sold out all of its stake in SEDG during the most recent quarter. The investment firm sold 2,127 shares of SEDG which is valued $37,244. Wfg Advisors Lp sold out all of its stake in SEDG during the most recent quarter. The investment firm sold 400 shares of SEDG which is valued $7,004. Evercore Wealth Management added SEDG to its portfolio by purchasing 1,658 company shares during the most recent quarter which is valued at $36,957.

Solaredge Technologies Inc opened for trading at $21 and hit $21.405 on the upside on Wednesday, eventually ending the session at $21.16, with a gain of 1.68% or 0.35 points. The heightened volatility saw the trading volume jump to 8,14,741 shares. Company has a market cap of $862 M.

On the company’s financial health, Solaredge Technologies Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.41. The company had revenue of $125.20 million for the quarter, compared to analysts expectations of $123.23 million. The company’s revenue was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Solaredge Technologies Inc. Shares were Reiterated by Needham on May 10, 2016 to “Buy” and Lowered the Price Target to $ 36 from a previous price target of $38 .Barclays Initiated Solaredge Technologies Inc on Apr 4, 2016 to “Overweight”, Price Target of the shares are set at $35.JP Morgan Initiated Solaredge Technologies Inc on Feb 23, 2016 to “Overweight”, Price Target of the shares are set at $34.

Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers replacing the solar junction box. Its SolarEdge DC-AC PV inverter works with the SolarEdge power optimizers. Its SolarEdge PV Monitoring Portal is a Web-based application that provides module-level string-level and system-wide monitoring. The Company’s customers include providers of solar PV systems to residential and commercial end users such as SolarCity SunRun Inc. and Vivint Solar Inc.

Leave a Reply

Solaredge Technologies Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Solaredge Technologies Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.