SolarEdge Technologies (NASDAQ:SEDG) Reaches New 12-Month Low at $58.04

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares reached a new 52-week low on Tuesday . The company traded as low as $58.04 and last traded at $58.05, with a volume of 252018 shares changing hands. The stock had previously closed at $60.44.

Analyst Ratings Changes

A number of research firms recently weighed in on SEDG. Barclays raised their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday. Citigroup lowered their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Piper Sandler lowered their price objective on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Finally, Mizuho lowered their price objective on shares of SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $100.28.

SolarEdge Technologies Trading Down 2.6 %

The stock has a market capitalization of $3.36 billion, a P/E ratio of 134.31 and a beta of 1.51. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is $70.69 and its two-hundred day moving average price is $81.08.

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

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. Panagora Asset Management Inc. raised its holdings in SolarEdge Technologies by 28.3% during the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock valued at $727,000 after buying an additional 497 shares during the last quarter. Rhumbline Advisers raised its holdings in SolarEdge Technologies by 2.7% during the 1st quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock valued at $14,315,000 after buying an additional 1,174 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in SolarEdge Technologies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock worth $2,265,000 after purchasing an additional 435 shares in the last quarter. Cibc World Market Inc. raised its holdings in SolarEdge Technologies by 28.5% in the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock worth $1,562,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in SolarEdge Technologies by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock worth $68,007,000 after purchasing an additional 1,902 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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.