Canaccord Genuity Assumes Solaredge Technologies Inc to Buy

Brokerage firm Canaccord Genuity Assumes its rating on Solaredge Technologies Inc(NASDAQ:SEDG). The shares have been rated Buy. The rating by Canaccord Genuity was issued on Sep 23, 2016.

In a different note, JMP Securities said it Initiates Coverage on Solaredge Technologies Inc, according to a research note issued on Sep 8, 2016. The shares have been rated ‘Market Outperform’ by the firm. On Aug 10, 2016, Deutsche Bank said it Maintains its rating on Solaredge Technologies Inc. In the research note, the firm Lowers the price-target to $27.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 10, 2016, Barclays said it Maintains its rating on Solaredge Technologies Inc. In the research note, the firm Lowers the price-target to $28.00 per share. The shares have been rated ‘Overweight’ by the firm.

Solaredge Technologies Inc (SEDG) made into the market gainers list on Tuesdays trading session with the shares advancing 1.94% or 0.31 points. Due to strong positive momentum, the stock ended at $16.25, which is also near the day’s high of $16.47. The stock began the session at $16 and the volume stood at 5,80,563 shares. The 52-week high of the shares is $30.5 and the 52 week low is $14.41. The company has a current market capitalization of $665 M and it has 4,08,98,197 shares in outstanding.

Solaredge Technologies Inc(SEDG) last announced its earnings results on Aug 9, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $124.75M. Analysts had an estimated revenue of $129.49M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, Yoav Galin (VP, Research and Development) sold 1,626 shares at $21.37 per share price.Also, 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.

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