New Harbor Financial Group Lowers stake in Solaredge Technologies Inc (SEDG)

Solaredge Technologies Inc (SEDG) : New Harbor Financial Group reduced its stake in Solaredge Technologies Inc by 0.24% during the most recent quarter end. The investment management company now holds a total of 41,320 shares of Solaredge Technologies Inc which is valued at $632,196 after selling 100 shares in Solaredge Technologies Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Solaredge Technologies Inc makes up approximately 0.93% of New Harbor Financial Group’s portfolio.

Other Hedge Funds, Including , Dalton Greiner Hartman Maher Co sold out all of its stake in SEDG during the most recent quarter. The investment firm sold 62,757 shares of SEDG which is valued $960,182.Simplex Trading boosted its stake in SEDG in the latest quarter, The investment management firm added 22,218 additional shares and now holds a total of 24,720 shares of Solaredge Technologies Inc which is valued at $386,868. Solaredge Technologies Inc makes up approx 0.05% of Simplex Trading’s portfolio.Eqis Capital Management boosted its stake in SEDG in the latest quarter, The investment management firm added 12,543 additional shares and now holds a total of 70,348 shares of Solaredge Technologies Inc which is valued at $1,208,579. Solaredge Technologies Inc makes up approx 0.08% of Eqis Capital Management’s portfolio.Beacon Financial Group reduced its stake in SEDG by selling 1,260 shares or 6.37% in the most recent quarter. The Hedge Fund company now holds 18,520 shares of SEDG which is valued at $318,174. Solaredge Technologies Inc makes up approx 0.07% of Beacon Financial Group’s portfolio.

Solaredge Technologies Inc closed down -0.24 points or -1.50% at $15.8 with 4,61,067 shares getting traded on Tuesday. Post opening the session at $16.11, the shares hit an intraday low of $15.6 and an intraday high of $16.249 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Many Wall Street Analysts have commented on Solaredge Technologies Inc. Solaredge Technologies Inc was Downgraded by Goldman to ” Neutral” on Oct 7, 2016. Shares were Reiterated by Needham on Sep 14, 2016 to “Buy” and Lowered the Price Target to $ 25 from a previous price target of $28 .Solaredge Technologies Inc was Initiated by JMP Securities to “Mkt Outperform” on Sep 8, 2016.

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.

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