BidaskClub upgraded shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) from a hold rating to a buy rating in a research report report published on Wednesday, July 12th.
SEDG has been the topic of several other research reports. Deutsche Bank AG set a $25.00 price objective on SolarEdge Technologies and gave the stock a buy rating in a report on Wednesday, June 14th. Axiom Securities restated a sell rating on shares of SolarEdge Technologies in a report on Friday, June 9th. Cowen and Company set a $21.00 price objective on SolarEdge Technologies and gave the stock an outperform rating in a report on Wednesday, May 10th. FBR & Co restated a market perform rating and set a $50.00 price objective (up previously from $17.00) on shares of SolarEdge Technologies in a report on Thursday, May 11th. Finally, Zacks Investment Research downgraded SolarEdge Technologies from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $23.11.
SolarEdge Technologies (SEDG) traded down 1.323% during trading on Wednesday, reaching $27.975. 1,081,450 shares of the company were exchanged. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $28.80. The stock has a 50 day moving average price of $21.12 and a 200 day moving average price of $16.89. The firm has a market capitalization of $1.16 billion, a PE ratio of 27.808 and a beta of 0.04.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.18. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The company had revenue of $136.10 million during the quarter, compared to the consensus estimate of $125.07 million. During the same period in the prior year, the company earned $0.44 EPS. SolarEdge Technologies’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that SolarEdge Technologies will post $1.77 EPS for the current fiscal year.
In other SolarEdge Technologies news, Director More Avery sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $19.30, for a total transaction of $386,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lior Handelsman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $21.44, for a total value of $107,200.00. Following the sale, the vice president now directly owns 251,814 shares of the company’s stock, valued at approximately $5,398,892.16. The disclosure for this sale can be found here. In the last three months, insiders sold 114,018 shares of company stock valued at $2,757,847. 16.40% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of SolarEdge Technologies by 380.4% in the second quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock worth $120,000 after buying an additional 4,755 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of SolarEdge Technologies during the first quarter worth about $173,000. AQR Capital Management LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $138,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of SolarEdge Technologies during the first quarter worth about $178,000. Finally, CAPROCK Group Inc. bought a new stake in shares of SolarEdge Technologies during the first quarter worth about $196,000. 57.28% of the stock is owned by hedge funds and other institutional investors.
SolarEdge Technologies Company Profile
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.
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