Solaredge Technologies Inc (SEDG) is Reiterated by Barclays to Overweight, Lowers Price Target to $ 22

Solaredge Technologies Inc (SEDG) was Reiterated by Barclays to “Overweight” while Lowering the Price Target of the company shares to $ 22 from a previous price target of $28 . Barclays advised their investors in a research report released on Aug 10, 2016.

On the company’s financial health, Solaredge Technologies Inc reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.41. The company had revenue of $124.80 million for the quarter, compared to analysts expectations of $129.39 million. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Solaredge Technologies Inc opened for trading at $17.17 and hit $17.88 on the upside on Monday, eventually ending the session at $17.75, with a gain of 2.84% or 0.49 points. The heightened volatility saw the trading volume jump to 7,42,346 shares. Company has a market cap of $723 M.

In a different news, on Jun 6, 2016, Yoav Galin (VP, Research and Development) sold 1,626 shares at $21.37 per share price. According to the SEC, on May 17, 2016, Meir Adest (VP, Core Technologies) sold 260 shares at $18.13 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.

Solaredge Technologies Inc

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