Solaredge Technologies Inc (SEDG) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $0.51 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.41. The company posted revenue of $125.20 million in the period, 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. 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 opened for trading at $22.14 and hit $22.57 on the upside on Friday, eventually ending the session at $22.29, with a gain of 1.00% or 0.22 points. The heightened volatility saw the trading volume jump to 14,07,495 shares. Company has a market cap of $897 M.
In a different news, on May 3, 2016, Yoav Galin (VP, Research and Development) sold 11,003 shares at $26.66 per share price. According to the SEC, on May 3, 2016, Meir Adest (VP, Core Technologies) sold 2,633 shares at $27.55 per share price. On Mar 14, 2016, Ronen Faier (Chief Financial Officer) sold 6,587 shares at $27.64 per share price, according to the Form-4 filing with the securities and exchange commission.
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.