Solaredge Technologies Inc (SEDG) Short Interest Up 26.1% in July

Solaredge Technologies Inc (NASDAQ:SEDG) was the target of a large growth in short interest during the month of July. As of July 14th, there was short interest totalling 5,888,450 shares, a growth of 26.1% from the June 30th total of 4,669,238 shares. Currently, 17.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,687,499 shares, the short-interest ratio is presently 3.5 days.

Solaredge Technologies (NASDAQ:SEDG) opened at 26.70 on Friday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 23.67 and a beta of 0.04. Solaredge Technologies has a 52-week low of $11.35 and a 52-week high of $28.80. The stock has a 50 day moving average of $23.76 and a 200-day moving average of $18.10.

Solaredge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.37 by $0.18. Solaredge Technologies had a net margin of 16.55% and a return on equity of 28.13%. The company had revenue of $136.10 million during the quarter, compared to analysts’ expectations of $125.07 million. During the same period last year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts expect that Solaredge Technologies will post $1.84 EPS for the current year.

In related news, VP Zvi Lando sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $20.49, for a total transaction of $204,900.00. Following the completion of the transaction, the vice president now owns 56,011 shares of the company’s stock, valued at approximately $1,147,665.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doron Inbar sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the transaction, the director now directly owns 223,333 shares of the company’s stock, valued at approximately $6,253,324. The disclosure for this sale can be found here. Insiders have sold a total of 164,018 shares of company stock valued at $4,157,847 in the last 90 days. Insiders own 16.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Solaredge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares in the last quarter. Ion Asset Management Ltd. bought a new stake in Solaredge Technologies during the second quarter valued at approximately $20,180,000. Janus Henderson Group PLC boosted its stake in Solaredge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after buying an additional 770,166 shares in the last quarter. Sylebra HK Co Ltd boosted its stake in Solaredge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock valued at $33,097,000 after buying an additional 412,073 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in Solaredge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after buying an additional 305,179 shares in the last quarter. Institutional investors own 58.32% of the company’s stock.

SEDG has been the subject of several recent research reports. Zacks Investment Research raised shares of Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Thursday, July 20th. ValuEngine cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. FBR & Co reiterated a “market perform” rating and set a $50.00 price target (up from $17.00) on shares of Solaredge Technologies in a research note on Thursday, May 11th. Finally, TheStreet upgraded shares of Solaredge Technologies from a “d” rating to a “c” rating in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. Solaredge Technologies currently has an average rating of “Buy” and a consensus target price of $23.11.

TRADEMARK VIOLATION NOTICE: This article was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.com-unik.info/2017/08/19/solaredge-technologies-inc-sedg-sees-large-growth-in-short-interest-updated-updated.html.

About Solaredge Technologies

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

What are top analysts saying about Solaredge Technologies Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Solaredge Technologies Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit