Surges in stock purchases of SolarEdge during quarter23. August 2016 | Global PV markets, Markets & Trends, Investor news | By: Sam Pothecary
Recent SEC filings show that a number of investment firms have been taking large chunks of the Israeli power optimizer specialist, not least NN Investment Partner Holding who made a $4.5 million stock purchase, in the face of a good fiscal year financially for SolarEdge.
SolarEdge’s impressive fiscal year (FY) was most likely the catalyst for a number of recent stock purchases made by investment companies in the Israeli firm. It shows that there is market optimism surrounding the company and its solar business going forward.
One of the most outstanding stock purchases was made by NN Investment Partners Holding N.V., which bought 231,000 shares, valued at $4.53 million, in the company during the last quarter. It joins other recent investments from prestigious firms, including Morgan Stanley, Schroder Investment Management, Senvest Management LLC, Prince Street Capital Management, and SkyTop Capital Management.
It is a positive sign for the company, who posted encouraging end-of-FY results earlier in the month, showing significant yearly growth in revenues and in its gross margin. SolarEdge recorded a 50.7% revenue rise over the course of the FY, clocking up $489.9 million in total revenue.
It was able to compliment the rise in its revenues and its sales with an increase to its yearly gross margin, which stood at 31% for FY 2016 up from 25.2% in FY 2015. However, due to a downturn in the U.S. residential solar market, the company did experience a slight sequential drop during Q4 and it is unclear how this will impact the first quarter of the company’s new FY.
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