BlackRock increases SolarEdge stake

SolarEdge

After holding a 7.3% stake at the end of March 2020, BlackRock increased it to 10.3% at the end of June.

US investment management company BlackRock Inc. (NYSE: BLK) has increased its stake in SolarEdge Technologies Inc. (Nasdaq: SEDG), the Israeli solar energy technology company has reported. After holding a 7.3% stake at the end of March 2020, BlackRock increased it to 10.3% at the end of June.

Taking an average for the quarter, BlackRock paid an estimated $175 million to increase its stake.

SolarEdge provides power optimizers, solar inverters and monitoring systems for the fast growing photovoltaic arrays market. On Friday, the company's share price rose 1.44% to $159.44, giving a market cap of $7.913 billion. BlackRock's stake is worth $815 million.

SolarEdge's share price has risen 68% since the start of 2020.

Published by Globes, Israel business news - en.globes.co.il - on July 12, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020</i

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018