Solaredge Technologies Inc (SEDG) : Norwest Venture Partners Xi Lp has sold out all of its stake in Solaredge Technologies Inc during the most recent quarter, according to the disclosure filed by the company on May 11, 2016 with the SEC. The investment management company has sold out 820,626 shares of Solaredge Technologies Inc which is valued at $14.4 Million.
Other Hedge Funds, Including , Menta Capital reduced its stake in SEDG by selling 100 shares or 0.8% in the most recent quarter. The Hedge Fund company now holds 12,453 shares of SEDG which is valued at $218,052. Solaredge Technologies Inc makes up approx 0.03% of Menta Capital’s portfolio.First Trust Advisors Lp boosted its stake in SEDG in the latest quarter, The investment management firm added 3,574 additional shares and now holds a total of 39,988 shares of Solaredge Technologies Inc which is valued at $700,190. 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. 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. Thompson Davis added SEDG to its portfolio by purchasing 375 company shares during the most recent quarter which is valued at $8,359. Solaredge Technologies Inc makes up approx 0.01% of Thompson Davis’s portfolio.
Solaredge Technologies Inc opened for trading at $17.91 and hit $19.1 on the upside on Monday, eventually ending the session at $18.23, with a gain of 4.11% or 0.72 points. The heightened volatility saw the trading volume jump to 14,78,534 shares. Company has a market cap of $743 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.