SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $18.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by Canaccord Genuity Group from $16.00 to $18.00 in a research report released on Tuesday,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on SEDG. Royal Bank of Canada dropped their price objective on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on shares of SolarEdge Technologies from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Citigroup decreased their target price on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.16.

SolarEdge Technologies Trading Down 14.8 %

NASDAQ SEDG opened at $14.99 on Tuesday. SolarEdge Technologies has a one year low of $10.24 and a one year high of $87.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The company has a market capitalization of $868.67 million, a price-to-earnings ratio of -0.52 and a beta of 1.56. The company’s 50-day simple moving average is $14.05 and its two-hundred day simple moving average is $19.88.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business’s quarterly revenue was down 64.0% on a year-over-year basis. During the same period last year, the firm earned ($1.03) EPS. Equities analysts forecast that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank Hapoalim BM raised its position in shares of SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after acquiring an additional 812 shares during the period. The Manufacturers Life Insurance Company raised its holdings in SolarEdge Technologies by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock worth $534,000 after purchasing an additional 1,175 shares during the period. KBC Group NV boosted its position in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares in the last quarter. ProShare Advisors LLC boosted its position in SolarEdge Technologies by 15.6% during the second quarter. ProShare Advisors LLC now owns 11,599 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,569 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in SolarEdge Technologies by 10.5% in the second quarter. Ensign Peak Advisors Inc now owns 18,491 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 1,750 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.