SolarEdge Technologies (NASDAQ:SEDG) Trading Up 9.5% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares were up 9.5% during trading on Thursday . The stock traded as high as $15.34 and last traded at $14.89. Approximately 1,540,424 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 3,731,670 shares. The stock had previously closed at $13.60.

Analyst Ratings Changes

Several research firms have recently weighed in on SEDG. The Goldman Sachs Group raised SolarEdge Technologies from a “sell” rating to a “buy” rating and boosted their target price for the company from $10.00 to $19.00 in a research report on Tuesday, December 17th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Jefferies Financial Group cut SolarEdge Technologies from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. UBS Group cut their price target on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.40.

SolarEdge Technologies Trading Up 3.2 %

The company has a 50 day moving average of $14.14 and a two-hundred day moving average of $20.42. The stock has a market capitalization of $885.48 million, a PE ratio of -0.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies’s revenue was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) EPS. Sell-side analysts predict that SolarEdge Technologies, Inc. will post -19.18 EPS for the current year.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery purchased 156,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in SolarEdge Technologies during the second quarter worth $28,000. KBC Group NV increased its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the last quarter. GAMMA Investing LLC raised its stake in SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares during the period. US Bancorp DE lifted its holdings in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 4,834 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in shares of SolarEdge Technologies during the 3rd quarter worth $229,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.