SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Average Rating of “Hold” from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been given an average rating of “Hold” by the twenty-nine research firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $99.84.

A number of research firms recently weighed in on SEDG. Janney Montgomery Scott cut shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Scotiabank cut their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. B. Riley lowered their target price on SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating for the company in a report on Monday, February 5th. The Goldman Sachs Group lowered their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup cut their target price on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st.

Insider Activity at SolarEdge Technologies

In related news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new position in shares of SolarEdge Technologies during the first quarter worth approximately $5,062,000. Green Alpha Advisors LLC grew its position in SolarEdge Technologies by 2.7% during the 1st quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company’s stock worth $726,000 after purchasing an additional 270 shares during the last quarter. GAMMA Investing LLC increased its stake in SolarEdge Technologies by 90.0% in the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 289 shares during the period. Versant Capital Management Inc raised its holdings in shares of SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of SolarEdge Technologies by 41.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,059 shares of the semiconductor company’s stock worth $1,410,000 after buying an additional 4,413 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $65.35 on Monday. The firm has a market cap of $3.73 billion, a PE ratio of 145.22 and a beta of 1.51. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 52 week low of $60.44 and a 52 week high of $322.19. The business’s fifty day simple moving average is $70.79 and its 200-day simple moving average is $81.57.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. Equities analysts forecast that SolarEdge Technologies will post -4.04 earnings per share for the current year.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.