Revenue Update on Solaredge Technologies Inc(NASDAQ:SEDG)

Solaredge Technologies Inc(NASDAQ:SEDG) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $124.75M. Analysts estimated a revenue of $129.49M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.41.

Solaredge Technologies Inc (SEDG) shares turned negative on Wednesdays trading session with the shares closing down -0.5 points or -2.74% at a volume of 5,36,252. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.28. The peak price level was also seen at $18.28 while the days lowest was $17.4. Finally the shares closed at $17.76. The 52-week high of the shares is $30.5 while the 52-week low is $15.02. According to the latest information available, the market cap of the company is $723 M.

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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