Odey Asset Management Group Ltd buys $29,581,950 stake in Solaredge Technologies Inc (SEDG)

Solaredge Technologies Inc (SEDG) : Odey Asset Management Group Ltd scooped up 1,011,500 additional shares in Solaredge Technologies Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,616,500 shares of Solaredge Technologies Inc which is valued at $29,581,950.Solaredge Technologies Inc makes up approximately 2.91% of Odey Asset Management Group Ltd’s portfolio.

Other Hedge Funds, Including , Lpl Financial sold out all of its stake in SEDG during the most recent quarter. The investment firm sold 32,520 shares of SEDG which is valued $595,116.Janus Capital Management boosted its stake in SEDG in the latest quarter, The investment management firm added 8,120 additional shares and now holds a total of 674,537 shares of Solaredge Technologies Inc which is valued at $12,344,027. Solaredge Technologies Inc makes up approx 0.01% of Janus Capital Management’s portfolio.Bronfman E.l. Rothschild boosted its stake in SEDG in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 1,685 shares of Solaredge Technologies Inc which is valued at $30,836.Blackrock Fund Advisors boosted its stake in SEDG in the latest quarter, The investment management firm added 1,296 additional shares and now holds a total of 3,729 shares of Solaredge Technologies Inc which is valued at $68,241. Aviance Capital Management added SEDG to its portfolio by purchasing 12,602 company shares during the most recent quarter which is valued at $239,942. Solaredge Technologies Inc makes up approx 0.01% of Aviance Capital Management’s portfolio.

Solaredge Technologies Inc closed down -0.19 points or -1.12% at $16.83 with 4,07,712 shares getting traded on Thursday. Post opening the session at $16.9, the shares hit an intraday low of $16.7 and an intraday high of $17.1 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. Shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight” and Lowered the Price Target to $ 22 from a previous price target of $28 .Shares were Reiterated by Needham on Aug 10, 2016 to “Buy” and Lowered the Price Target to $ 28 from a previous price target of $36 .Shares were Reiterated by FBR Capital on Aug 10, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $38 .

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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