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BlackRock's increase in Solaredge: sign of recovery in the solar sector?
According to a report from www.deraktionaer.de, after last year was very difficult for shareholders of solar companies, there seems to be a little more confidence coming into the industry. The asset manager BlackRock is proving this with its increase in Solaredge. The solar group is the Israeli inverter provider SolarEdge. According to official information, BlackRock increased its stake from 9.63 percent to 15.8 percent starting in the third quarter of 2023. The high level of interest rates on the one hand and weaker demand due to inventory reductions put a lot of pressure on SolarEdge's share price. The share closed the 2023 stock market year with a...
BlackRock's increase in Solaredge: sign of recovery in the solar sector?
According to a report by www.deraktionaer.de,
After last year was very difficult for solar company shareholders, there seems to be a little more confidence in the industry. The asset manager BlackRock is proving this with its increase in Solaredge.
The solar group is the Israeli inverter provider SolarEdge. According to official information, BlackRock increased its stake from 9.63 percent to 15.8 percent starting in the third quarter of 2023.
The high level of interest rates on the one hand and weaker demand due to inventory reductions put a lot of pressure on SolarEdge's share price. The share closed the 2023 stock market year with a price loss of more than 60 percent. The price has currently increased by 15 percent from its lowest price at the beginning of November.
The stock increase is certainly a good sign for the solar sector. SolarEdge's management team also seems to be becoming increasingly optimistic. After only so-called insider sales occurred in the first quarters of 2023, the first insider purchase was made by CFO Ronen Faier in the third quarter, worth almost $160,000. At a Goldman Sachs conference in early January, CFO Faier offered hope for better times. This assumes that the bottom has been reached and that demand can be expected to increase again in 2024.
Since the asset manager BlackRock has significantly increased its stake in SolarEdge, it can be assumed that institutional investors will return to the solar sector. This can lead to a recovery in the stock price and increase investor confidence in the industry.
Additionally, the insider buying by SolarEdge's CFO suggests that management itself has confidence in the company and expects a recovery. This could also increase investor confidence.
The positive signals from BlackRock and SolarEdge management could help investors regain interest in solar stocks and initiate a recovery in the solar sector.
Read the source article at www.deraktionaer.de